Archives

WASHINGTON, D.C. - May 22, 2013 - (RealEstateRama) -- Today, in reaction to the National Mortgage Settlement Monitor’s latest quarterly update, NCRC President and CEO John Taylor made the following statement:

WASHINGTON, D.C. - May 22, 2013 - (RealEstateRama) -- The Lawyers' Committee for Civil Rights Under Law (Lawyers' Committee)has filed a lawsuit in Los Angeles County, California against a network of for-profit loan modification companies on behalf of eight California homeowners. The suit alleges that defendants defrauded vulnerable homeowners out of tens of thousands of dollars by falsely promising to obtain—for substantial upfront fees—much-needed mortgage modifications on the homeowners’ behalf, but consistently failing to deliver results. Attorneys in the Los Angeles office of Arnold & Porter LLP are providing pro bono counsel on the case

WASHINGTON, D.C. - May 22, 2013 - (RealEstateRama) -- Members of the Financial Institutions and Consumer Credit Subcommittee expressed concerns at a hearing today that the Qualified Mortgage rule mandated by the Dodd-Frank Act will reduce access to credit that qualified borrowers need to buy homes

WASHINGTON, D.C. - May 21, 2013 - (RealEstateRama) -- The nation’s largest mortgage servicers have distributed $50.63 billion in direct relief to over 620,000 homeowners, or roughly $81,000 per homeowner as part of the National Mortgage Settlement, according to a progress update released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight. Over one year ago, the Department of Justice, Department of Housing Urban Development (HUD) and 49 state attorneys general

WASHINGTON, D.C. - May 17, 2013 - (RealEstateRama) -- The Consumer Financial Protection Bureau today ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination business to Benchmark Bank and to Willow Bend Mortgage Company. The Bureau is also prohibiting Taylor from engaging in future real estate settlement services, including mortgage origination

Washington, DC - May 17, 2013 - (RealEstateRama) -- The Financial Services Housing and Insurance Subcommittee continued its examination of the troubled Federal Housing Administration (FHA) today with a hearing that focused on several of the agency’s programs that operate outside its mission

Washington, DC - May 16, 2013 - (RealEstateRama) -- Today, the National Community Reinvestment Coalition (NCRC) released an analysis of home and small business lending in Washington, DC. The analysis of 2011 Home Mortgage Disclosure Act data on lending from six major banks and the lending market as a group shows racial and gender disparities in home lendin

WASHINGTON, D.C. - May 15, 2013 - (RealEstateRama) -- MRG Document Technologies has developed legal compliance technology support software that addresses today’s “ever more complex” mortgage servicing policies and procedures.

WASHINGTON, D.C. - May 15, 2013 - (RealEstateRama) -- MRG Document Technologies has developed legal compliance technology support software that addresses today’s “ever more complex” mortgage servicing policies and procedures.

WASHINGTON, D.C. - May 15, 2013 - (RealEstateRama) -- New regulations and future reforms to financial markets will have broad implications for housing, mortgage markets and homeownership. That’s according to industry insiders at the “Regulatory Issues Forum –Will Federal Regulators Shape the Future of Mortgage Finance?” session today during the Realtors® Midyear Legislative Meetings & Trade Expo.

WASHINGTON, D.C. - May 9, 2013 - (RealEstateRama) -- The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.25 percent of all loans outstanding at the end of the first quarter of 2013, an increase of 16 basis points from the previous quarter, but down 15 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

WASHINGTON, D.C. - May 9, 2013 - (RealEstateRama) -- Some borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley and who were already sent a check as part of the Independent Foreclosure Review payment agreement will be sent an additional payment around May 17, Rust Consulting announced Wednesday Leaving the Board. The payments are being made to correct an error by Rust Consulting, the paying agent, when the original payments were sent last week.

WASHINGTON, D.C. - May 8, 2013 - (RealEstateRama) -- Mortgage applications increased 7.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2013

Reston, Virginia - May 7, 2013 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that Judge Robert Holmes Bell of the U.S. District Court for the Western District of Michigan dismissed a lawsuit filed by Ingham and Branch County, Michigan Registers of Deeds, ruling in favor of MERSCORP Holdings, Inc., Mortgage Electronic Registration Systems, Inc. (MERS) and other member defendants.

WASHINGTON, D.C. - May 7, 2013 - (RealEstateRama) -- Please Note: These are prepared remarks from MBA`s 2013 Secondary Market Conference & Expo. Mr. Stevens may add or subtract from these remarks during the course of his presentation. Portions of the text may be omitted during the speech.

PHILADELPHIA - May 3, 2013 - (RealEstateRama) -- The former general manager and five former employees of Madison Funding, Inc., a now-defunct Allentown mortgage loan origination company, are charged by indictment, unsealed today, in a mortgage fraud conspiracy that caused mortgage lending businesses to issue millions of dollars worth of loans that were based on false information. All six defendants are charged with conspiracy to commit fraud and related crimes.

Fairfax, VA - May 2, 2013 - (RealEstateRama) -- Americans for Limited Government (ALG) President Bill Wilson today issued the following statement on the pending nomination of Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency, highlighting his past support of mortgage principal reductions for as many as

Bensalem, PA - May 2, 2013 - (RealEstateRama) -- The Federal Home Loan Bank of Pittsburgh (FHLBank) and six area banks had some good news today for first-time homebuyers: they and other Keystone State banks may be able to provide lower-income families with grants to help them meet their down payment and closing costs

Reston, Virginia - May 2, 2013 - (RealEstateRama) -- Below is a monthly summary of major legal decisions involving either the use of the MERS® System database or Mortgage Electronic Registration Systems, Inc. (MERS) and its role in the mortgage process. Please feel free to contact the Office of Communications at MERSCORP Holdings, Inc. with any questions and visit the MERS Newsroom for a full list of news releases.

WASHINGTON, D.C. - May 1, 2013 - (RealEstateRama) -- Mortgage applications increased 1.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 26, 2013.