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WASHINGTON, DC - May 26, 2011 - (RealEstateRama) -- The Justice Department today announced settlements with two lenders under the Servicemembers Civil Relief Act (SCRA) to resolve allegations that the lenders wrongfully foreclosed upon active duty servicemembers without first obtaining court orders, in violation of the SCRA. Combined, the settlements provide more than $22 million in monetary relief for the victims

NEW YORK, N.Y. - May 26, 2011 - (RealEstateRama) -- Mortgage rates dropped again, with the benchmark conforming 30-year fixed mortgage rate falling to 4.77 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.4 discount and origination points.

Washington, DC - May 26, 2011 - (RealEstateRama) -- The National Association of Realtors® supports a secondary mortgage market model with some level of government participation that would protect taxpayers and ensure that creditworthy consumers have access to affordable mortgage capital in all markets at all times.

WASHINGTON, DC - May 26, 2011 - (RealEstateRama) -- The Department of Veterans Affairs (VA) announced today that special disaster assistance may be available to Veterans with VA-guaranteed home loans who have been affected by recent tornados in Missouri.

WASHINGTON, D.C. - May 26, 2011 - (RealEstateRama) -- With some members of Congress actively pushing to abolish Fannie Mae and Freddie Mac and end the federal backstop for housing, the National Association of Home Builders (NAHB) told Congress today that maintaining an appropriate level of government support is absolutely essential to preserve financial stability.

PLEASANTON, CA - May 26, 2011 - (RealEstateRama) -- Ellie Mae®(NYSE Amex:ELLI), the provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, announced today that it has launched the Total Quality Loan (TQL) program, a new initiative to promote total loan quality for loans originated through Encompass360® Mortgage Management Solution. This program builds upon the company's strategy to provide a comprehensive mortgage solution that extends beyond standard loan origination functions by offering supplemental services that enhance loan quality and compliance, and help reduce many of the major risks throughout the mortgage cycle.

AUSTIN, TX - May 26, 2011 - (RealEstateRama) -- Vacation homes aren’t just for rest and relaxation; they are also a satisfying, moneymaking venture for many owners. HomeAway, Inc. – the world’s leading online vacation rental marketplace – finds in its latest “HomeAway Vacation Rental Marketplace Report” that 81 percent of vacation home owners who rent their homes to travelers are satisfied with the overall experience.

Washington, DC - May 26, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee and a leading champion for homeowners, delivered the following remarks today during a Subcommittee on Housing, Insurance, and Community Opportunity Hearing on “Legislative Proposals to Determine the Future Role of FHA, RHS and GNMA in the Single-and Multi-Family Mortgage Markets.”

WASHINGTON, D.C. (May 25, 2011) — Mortgage applications increased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 20, 2011.

MINNEAPOLIS, MN - May 25, 2011 - (RealEstateRama) -- Earlier today in federal court in St. Paul, a jury convicted a 44-year-old Burnsville man of conspiring with others to bilk mortgage lenders out of more than $43 million. Following a six-day trial, the jury found Troy David Chaika guilty on seven counts of wire fraud, three counts of mail fraud, and one count of conspiracy to commit wire fraud and mail fraud. Chaika was indicted on April 12, 2010

WASHINGTON, D.C. - May 25, 2011 - (RealEstateRama) -- Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association, testified today before the U.S. House of Representatives Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing entitled "Legislative Proposals to Determine the Future Role of FHA, RHS and GNMA in the Single-and Multi-Family Mortgage Markets."

WASHINGTON, DC - May 25, 2011 - (RealEstateRama) -- HUD’s failure to keep pace with the volume of multifamily mortgage applications is exacerbating the nation’s shortage of workforce housing, jeopardizing the thousands of jobs created by new apartment construction and reducing the new revenues the program could be generating for the federal government.

PITTSBURGH, PA - May 24, 2011 - (RealEstateRama) -- A resident of Richland Township, Pennsylvania has been sentenced in federal court to 27 months in prison and two years of supervised release on his conviction of wire fraud conspiracy, United States Attorney David J. Hickton announced today.

LOS ANGELES, CA - May 24, 2011 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced the creation of the California Attorney General's Mortgage Fraud Strike Force, staffed by Department of Justice attorneys and investigators charged with protecting innocent homeowners and bringing to justice those who defraud them.

LOS ANGELES, CA - May 24, 2011 - (RealEstateRama) -- A Buellton man was sentenced today to 21 months in federal prison for defrauding banks by nearly simultaneously seeking home equity lines of credit from four different federally insured financial institutions. Larry P. Corbi Jr., 36, who resided in Marina del Rey during the course of the scheme and has since relocated to the Central Coast, was sentenced by United States District Judge Dale S. Fischer. In addition to the prison term, Judge Fischer ordered Corbi to pay $356,644 in restitution.

FRESNO, CA - May 24, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that United States District Judge Lawrence J. O'Neill sentenced Wrenl Burge, 40, of Fresno, to 41 months in prison and Albert Lewis Ellis, 46, also of Fresno, to 33 months in prison for a scheme to falsify mortgage loan documents. Burge was ordered to pay $1,011,524 in restitution, and Ellis was ordered to pay $548,178 in restitution to the mortgage lenders.

Washington, DC - May 23, 2011 - (RealEstateRama) -- Congressman David Scott [GA-13], in partnership with the U.S. Departments of Treasury and Housing and Urban Development (HUD), will host the powerful two-day “Help for Homeowners Community Events” on Friday, June 17, 11am-7:30pm and Saturday, June 18, 9am-3pm. These events will take place at the Georgia International Convention Center in College Park.

Brookfield, WI - May 23, 2011 - (RealEstateRama) -- Inlanta Mortgage is proud to announce Mid America Mortgage Services, of Overland Park, Kan., has merged its operations with Inlanta Mortgage. The merger brings Kevin & Cindy Laffey to Inlanta with more than 20 years of experience, along with a highly experienced team of mortgage professionals. Laffey and his team have ranked in the top of the Business Journal’s “Top 25” in Kansas City

WASHINGTON, DC - May 23, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a settlement with Minneapolis-based U.S. Bank, National Association, the Federal Housing Administration’s (FHA) 8th largest mortgage lender.

West Haven, CT - May 23, 2011 - (RealEstateRama) -- So, you have decided now is the time to do that home improvement project. Knowing where to begin can be a daunting task. Tina Chamberland, founder of ConstructionConfidant.Com says the very first So thing that should be done is to consider the purpose and uses of the project. Are you planning these improvements in an effort to sell your home faster? Are they going to be part of a long term plan to remain in the house? These two differences can lead you down two very different paths.