Archives

Irvine, CA - August 2, 2011 - (RealEstateRama) -- Faris Lee Investments, the nation’s largest retail investment advisory firm, has completed the $6.6 million sale of a NNN leased, single-tenant, 30,000 square foot property occupied by Best Buy loc...

WASHINGTON, DC - August 2, 2011 - (RealEstateRama) -- Faith Schwartz, Executive Director of the HOPE NOW Alliance, testified today before the United States Senate Committee on Banking, Housing and Urban Affairs, for a hearing entitled “Housing Finance Reform: National Mortgage Servicing Standards”. Also testifying with Ms. Schwartz was Jack Hopkins, President and CEO of CorTrust Bank (testifying on behalf of Independent Community Bankers of America)

Washington, DC - August 2, 2011 - (RealEstateRama) -- A proposed rule by federal regulators to impose a minimum 20 percent down payment, stringent debt-to-income ratio requirements and rigid credit standards will deny millions of Americans access to safe, low-cost mortgages, according to the National Association of Realtors

WASHINGTON, DC - August 1, 2011 - (RealEstateRama) -- The Federal Housing Administration’s Mortgagee Review Board (MRB) today announced hundreds of administrative actions against FHA-approved lenders who failed to meet its requirements. MRB sanctions against lenders include reprimands, probations, suspensions, withdrawals of approval, and civil money penalties. Read the full text of MRB’s Federal Register Notice

BOISE, ID - July 29, 2011 - (RealEstateRama) -- Do you need help with your mortgage payments? Emergency Homeowners’ Loan Program (EHLP) funds are available through the Idaho Housing and Finance Association (IHFA) to assist qualified unemployed or ...

FRESNO, CA - July 29, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that a federal grand jury returned a two-count indictment today charging Tony Huy Havens, 37, of Modesto, with conspiracy to commit mail fraud and mail fraud in a mortgage fraud scheme.

July 29, 2011 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced that Matthew “Beau” La Madrid was sentenced today by U.S. District Court Judge William Q. Hayes to serve a lengthy federal prison term in connection with his operation of the Plus Money Premium Return Funds (“PRF”) and related real estate investment and mortgage fraud schemes. The defendant entered his guilty plea on January 3, 2011.

Washington, DC - July 29, 2011 - (RealEstateRama) -- Any changes to the mortgage interest deduction now or in the future could threaten recent progress toward stabilizing the housing market, critically erode home prices and values, destroy middle-class wealth accumulation and hurt economic growth.

WASHINGTON, D.C. - July 28, 2011 - (RealEstateRama) -- David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) issued the following statement today.

WASHINGTON and FT. WASHINGTON, Pa. - July 28, 2011 - (RealEstateRama) -- Business Solutions, a subsidiary of the American Bankers Association, named Aklero Risk Analytics, a provider of automated data and document validity assurance for the mortgage industry, the exclusive provider of mortgage quality control services to its members.

WASHINGTON, DC - July 27, 2011 - (RealEstateRama) -- Fannie Mae (FNMA/OTC) today announced that in the first half of 2011, the company issued $10.3 billion in MBS backed by new multifamily acquisitions delivered by our lenders, and sold $5.3 billion in MBS pools and GeMSTM structured transactions, enhancing tradable float and supporting liquidity in the multifamily MBS market.

Washington, DC - July 27, 2011 - (RealEstateRama) -- The Federal Housing Finance Agency today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.62 percent based on loans closed in June. This is a decrease of 0.12 percent from the previous month.

WASHINGTON, D.C. - July 27, 2011 - (RealEstateRama) -- Mortgage applications decreased 5.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 22, 2011.

CLEVELAND, OH - July 26, 2011 - (RealEstateRama) -- In the wake of reports that banks and mortgage processors have continued a practice known as “robo-signing”—forging signatures and submitting false affidavits—U.S. Sen. Sherrod Brown (D-OH)...

MINNEAPOLIS, MN - July 26, 2011 - (RealEstateRama) -- This past Friday in federal court, an Edina mortgage broker was charged for his role in a $20 million mortgage fraud scheme that involved 57 properties. Derrick Ivan Lance, age 40, of Edina, was charged via an information with one count of conspiracy to commit wire fraud.

Atlanta, GA - July 26, 2011 - (RealEstateRama) -- On July 21, 2011, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Cornerstone Mortgage Company dba Brayden Capital Home Loans (“Cornerstone Mortga...

Westborough, MA - July 26, 2011 - (RealEstateRama) -- The Villages at Brookside, located at 52 Brookside Road, sponsored two CEU classes taught by Anita Hill Training & Seminars and accredited by the Higgins Group License School on July 19th to support the continuing education of local real estate agents.

Brookfield, WI - July 26, 2011 - (RealEstateRama) -- Inlanta Mortgage is pleased to announce the addition of Peter Salamone to its corporate staff. As Business Development Manager, Salamone will focus on recruiting Branch Partners to expand Inlanta’s Partner Branch network and increase corporate sales.

Westborough, MA - July 26, 2011 - (RealEstateRama) -- Gordon's Woods Condominium's located at 990 VFW Parkway in West Roxbury reports an increase in demand for new construction within Boston Proper. In the past ten days, the complex reports five pending sales.

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- On Friday, the Mortgage Bankers Association (MBA) filed a comment letter with the Federal Reserve on the Board’s proposed rule that would implement amendments to the Truth in Lending Act (TILA) under the Dodd-Frank Act to establish Ability to Repay/Qualified Mortgage requirements.In the letter, MBA’s President and CEO David H. Stevens reiterates MBA’s support for the establishment of an ability to repay requirement for mortgage loans and emphasizes the importance of a final rule that provides unambiguous definitions and means of compliance. According to MBA, clear “bright line” requirements will ensure the availability of sustainable mortgage credit to the widest array of qualified borrowers at affordable costs.