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Orlando, Florida - February 6, 2015 - (RealEstateRama) -- Mortgage Lender FBC Mortgage, LLC recently released the Top 5 Mortgage Markets in Florida for 2014. The statistics show that 2014 proved to be a steady year for growth in the Florida housing and mortgage industry. All data contained in the list is generated from FBC Mortgage, LLC’s financed properties (no cash transactions) and excludes condos

WASHINGTON, D.C. - February 5, 2015 - (RealEstateRama) -- On Thursday, February 12^th at 10:30 a.m., the Regulatory Reform, Commercial and Antitrust Law Subcommittee will hold an oversight hearing entitled “Consumers Shortchanged? Oversight of the Justice Department’s Mortgage Lending Settlements.”

WASHINGTON, D.C. - February 5, 2015 - (RealEstateRama) -- A group of Utah-based defendants claiming to be legal experts in loan modifications have settled Federal Trade Commission charges that they broke the law by conning consumers into paying hefty fees for worthless mortgage relief services. The five proposed orders settling the FTC’s charges ban the defendants, led by Philip J. Danielson and his company, Danielson Law Group, from offering mortgage assistance relief services and from participating in the debt relief industry

WASHINGTON, D.C. - February 5, 2015 - (RealEstateRama) -- Two San Jose, California, brothers were sentenced to prison for committing tax fraud and bank fraud, Principal Deputy Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division and U.S. Attorney Melinda Haag of the Northern District of California announced.

DENVER - February 3, 2015 - (RealEstateRama) -- Colorado Attorney General Cynthia H. Coffman announced today that Colorado will receive $21,535,714 from Standard & Poor’s Financial Services LLC to resolve allegations S&P misled investors when it rated structured finance securities in the lead-up to the financial crisis and beyond. Colorado joins with 18 other states and the District of Columbia, as well as the U.S. Department of Justice, in reaching an overall settlement totaling $1.375 billion.

SAN FRANCISCO - February 3, 2015 - (RealEstateRama) -- Attorney General Kamala D. Harris, along with the U.S. Department of Justice and the attorneys general of eighteen states and the District of Columbia, today announced a settlement with Standard & Poor’s Financial Services LLC (S&P) and its parent company, McGraw-Hill Financial Inc., to resolve federal and state civil claims related to S&P’s conduct in inflating ratings of residential mortgage-backed securities and structured investment vehicle notes

WASHINGTON, D.C. - February 2, 2015 - (RealEstateRama) -- The Federal Housing Administration (FHA) today issued a new policy under its Home Equity Conversion Mortgage (HECM) Program giving FHA-approved lenders the option to delay calling HECMs with eligible ‘non-borrowing spouses’ due and payable. A delay would postpone foreclosure normally triggered by the death of the last surviving borrower. FHA’s new guidance will allow reverse mortgage lenders to assign eligible HECMs to HUD upon the death of the last surviving borrowing spouse, thereby allowing eligible surviving spouses the opportunity to remain in the home despite their non-borrowing status

WASHINGTON, D.C. - February 2, 2015 - (RealEstateRama) -- The Conference of State Bank Supervisors (CSBS) strongly supports the CFPB’s willingness to propose changes to its mortgage rules to provide more exemptions for small creditors and new safe harbor provisions related to rural or underserved markets. If enacted as proposed, the revisions would give more banks flexibility to make loans to their customers, show discretion in credit decisions, and engage in relationship lending

WASHINGTON, D.C. - January 23, 2015 - (RealEstateRama) -- The Conference of State Bank Supervisors (CSBS) will host the seventh NMLS Annual Conference and Training February 16-19 in San Diego, Calif

Baltimore, MD - January 23, 2015 - (RealEstateRama) -- Attorney General Brian E. Frosh today announced a settlement with Wells Fargo Bank and JPMorgan Chase Bank (Chase) to resolve allegations that the financial firms illegally steered customers to a now-defunct Maryland-based title company in exchange for marketing services that increased their customer base

WASHINGTON, D.C. - January 16, 2015 - (RealEstateRama) -- The American Land Title Association (ALTA), the national trade association of the land title insurance industry, reminds consumers this week of the top three reasons their efficient real estate transaction depends on the work of title insurance agents.

WASHINGTON, D.C. - January 14, 2015 - (RealEstateRama) -- The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement today from Chief Executive Officer Michelle Korsmo in response to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray’s speech at the Brookings Institution:

WASHINGTON, D.C. - January 14, 2015 - (RealEstateRama) -- A new report from the Center for Responsible Lending (CRL) titled "Reckless Driving: The Implications of Recent Subprime Auto Finance Growth" highlights trends in the $870 billion auto lending sector, particularly loans to consumers with below prime credit. Growth in the market raises concerns that subprime auto lending practices are leading to conditions that risk causing serious problems in the larger auto market. The report also questions whether auto loans really are performing better than mortgages did in the period before the mortgage meltdown, as the auto lending industry suggests, or whether increases in delinquency and default rates signal larger problems in the market

Washington, DC - January 12, 2014 - (RealEstateRama) -- Today, in reaction to President Obama’s announcement that the Federal Housing Administration (FHA) will lower mortgage insurance premiums by 0.5 percentage points for FHA loans, NCRC President and CEO John Taylor made the following statemen

WASHINGTON, D.C. - January 08, 2014 - (RealEstateRama) -- House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement regarding reports that President Obama on Thursday will announce executive action to lower Federal Housing Administration (FHA) mortgage insurance premiums

WASHINGTON, D.C. - December 25, 2014 - (RealEstateRama) -- A Northern California real estate investor pleaded guilty for his role in bid rigging and fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced.

Reston, Virginia,- December 23, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the U.S. Court of Appeals for the Eighth Circuit affirmed the ruling by the District Court of Minnesota that there is no mandatory recording requirement under Minnesota law and the dismissal of the Complaint. The Eighth Circuit also declined to certify a question to the Minnesota Supreme Court as requested by the Counties because the Minnesota courts have interpreted the Act in numerous instances, and the issue before the Court only requires a straightforward application of this case law

Reston, Virginia, - December 23, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the U.S. Court of Appeals for the Eighth Circuit issued a favorable ruling in an Iowa recording fee case.

SAYREVILLE, NJ - December 18, 2014 - (RealEstateRama) -- A day after the United States Senate approved a one-year extension of a series of tax breaks, Senators Robert Menendez and Cory Booker today met with Sayreville homeowners to discuss the important of extension of mortgage debt reduction tax relief, especially for Sandy victims still struggling to recover. They also announced more than $3 million in federal funding to continue the acquisition and demolition of 196 flood prone properties in Sayreville.

Reston, Virginia, - December 17, 2014 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Rhode Island Supreme Court ruled, consistent with prior cases, that language in the mortgage explicitly grants the power of sale to MERS and its successors and assigns.