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Lending (1495)

Perp Walk Friday: New Jersey Man Pleads Guilty of Mortgage, Real Estate Fraud

Perp Walk Friday: New Jersey Man Pleads Guilty of Mortgage, Real Estate Fraud

Friday, 05 October 2018
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A New Jersey man pled guilty to charges that he conspired to defraud financially distressed homeowners, investors, and financial institutions of fees and income from mortgage and real estate transactions. Hasan Hussain, 57, of Princeton, N.J., pled guilty to charges that he conspired to defraud them of rental income, mortgage payment funds, property ownership and… Read more...
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Hensarling: GSE 'Reform, While Critical, Has Proven Elusive'

Hensarling: GSE 'Reform, While Critical, Has Proven Elusive'

Thursday, 13 September 2018
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  Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following statement at the full committee’s hearing on the 10th anniversary of the federal government’s takeover of Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSE). Sept. 6th, 2008 is a day that will live on in economic infamy. For today marks a not-so-happy anniversary… Read more...
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Study: Millennials Rank Home Ownership the No.1 Accomplishment

Study: Millennials Rank Home Ownership the No.1 Accomplishment

Thursday, 13 September 2018
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By Sam Evans Millennials view owning a home as a greater accomplishment than saving the world, which ranked second to last, according to the 2018 TMS Millennial First-Time Homebuyer Study, notes a new survey from The Mortgage finance Company. The study uncovered that 43% of Millennials said that owning a home is the most important… Read more...
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Wells Fargo Names Toye to Community Lending Post

Wells Fargo Names Toye to Community Lending Post

Thursday, 13 September 2018
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Wells Fargo named Vince Toye head of Community Lending and Investment, and he will report to Mark Myers, head of Commercial Real Estate. “Vince is a proven leader in affordable housing and community development finance,” Myers said. “I am confident that his passion for this work, paired with Wells Fargo’s deep commitment to affordable housing… Read more...
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Fed Lifts Supervisory Agreement with Flagstar

Fed Lifts Supervisory Agreement with Flagstar

Thursday, 13 September 2018
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The Federal Reserve has lifted its Supervisory Agreement with Flagstar Bancorp. The Supervisory Agreement, which began on Jan. 27, 2010, included requirements to submit a capital plan annually and receive a written non-objection from the Fed before paying a dividend or repurchasing stock, incurring or renewing holding company debt or engaging in affiliate transactions. "This… Read more...
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Waters Wants to Raise Reg Scrutiny on Servicers

Waters Wants to Raise Reg Scrutiny on Servicers

Thursday, 12 July 2018
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By Sam Evans Mortgage servicers will be forced to operate under more regulatory scrutiny if a proposed bill becomes law. That’s because the legislation would increase the Federal Housing Finance Agency’s oversight of mortgage servicers that conduct business with Fannie Mae and Freddie Mac—with the aim to protect borrowers from foreclosures. Congresswoman Maxine Waters (D-CA),… Read more...
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Single-Family Rent Prices Increased 2.7% in March

Single-Family Rent Prices Increased 2.7% in March

Thursday, 12 July 2018
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[caption id="attachment_5423" align="alignleft" width="142"] Molly Boesel: Rents are increasing in most cities across the U.S.[/caption] Across the U.S., rents increased 2.7 percent in March, with the largest increase found in low-end rental prices. That’s because low rental home inventory, relative to demand, caused single-family rental prices to increase, according to Corelogic’s Single-Family Rent Index, which… Read more...
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Sham Short Sale Conspiracy Brings Down Real Estate Attorney, Two Others

Sham Short Sale Conspiracy Brings Down Real Estate Attorney, Two Others

Thursday, 12 July 2018
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A real-estate attorney was sentenced today in connection with a sweeping conspiracy to defraud banks and mortgage companies by engaging in sham short sales of residential properties in Merrimack Valley, Mass., near Boston. Jasmin Polanco, 37, of Methuen,Mass., was sentenced by Douglas Woodlock, senior district court judge, to 15 months in prison, three year of… Read more...
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US Foreclosure Rate hits 0.59 percent, lowest level in 15 years

US Foreclosure Rate hits 0.59 percent, lowest level in 15 years

Monday, 02 July 2018
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Mortgage borrower are benefitting from the strong economy—if a recent survey is any indication. The pre-sale inventory foreclosure ratein the U.S. is 0.59 percent, the lowest level in 15 years, and the number of mortgages in active foreclosure is a modest 303,000.If the current rate of decline continues,the market could achieve the 2000-2005pre-recession averageearly in… Read more...
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Congress Passes Sweeping Financial, Regulatory Reform Bill

Congress Passes Sweeping Financial, Regulatory Reform Bill

Tuesday, 29 May 2018
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Congress has passed what many observers consider the most sweeping financial and regulatory reform since the passage of the Gramm-Leach-Bliley Act in 1999. The legislation delivers "much-needed regulatory relief to Main Street banks and credit unions. This bill takes a major step toward allowing the banking system to serve the needs of American businesses and… Read more...
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