David John Dziedzic was sentenced by U.S. District Judge David Campbell to prison for 30 months because of his lead role in criminal activity related to the short sale of distressed mortgages, some of which were federally-insured. Dziedzic, 55, of Scottsdale, Ariz., had pleaded guilty to one count of communication of unregistered securities, and a separate count involving the failure to notify the Treasury Department of his collection of more than $10,000 in cash from a real estate customer.  

Dziedzic operated the “Housing Angels” program through his company, Real Core Realty.  He aggressively marketed a program designed to help homeowners stay in their homes following a short sale, through an undisclosed sale-leaseback program with “angel” investors. Through this program, he typically received commissions from both the buyer and the seller in a short-sale transaction. Dziedzic also recorded false secondary liens on more than 100 short sale properties to induce banks holding primary mortgages to pay off the false secondary mortgages, resulting in more than $100,000 in illegal profits as a result of the scheme.

As part of the sentence, Dziedzic must give up his real estate license.  He paid $107,280 in restitution for the actual loss caused when 40 banks paid out on the false liens, and he was also ordered to pay a money judgment of $142,000 over time, in order to disgorge additional profits. As part of the plea agreement, Dziedzic, a Canadian national who naturalized as a U.S. citizen during the investigation, agreed to cooperate in his denaturalization, because he had failed to disclose the existence of the investigation to U.S. Citizenship and Immigration Services during the naturalization process.

Dziedzic’s wife, Heather Hamilton Dziedzic, 43, pleaded guilty to a related misdemeanor charge, and was also sentenced for her role in the offense.  She will also surrender her real estate license.  She received a two-year term of probation and a deferred disposition on a felony securities charge, which may be dismissed upon successful completion of the probationary term.

The U.S. loan delinquency rate for loans 30 or more days past due, but not in foreclosure is 3.71%, and a year over year change of -18.53%, according to Black Knight Inc.'s  "first look" at November 2018 mortgage performance statistics. The data is derived from loan-level database representing the majority of the national mortgage market, which the company collects.

Total U.S. foreclosure pre-sale inventory rate: 0.52%
Month-over-month change: -0.22%
Year-over-year change: -21.95%

Total U.S. foreclosure starts: 45,200
Month-over-month change: -10.67%
Year-over-year change: -5.44%

Monthly prepayment rate (SMM): 0.66%
Month-over-month change: -14.95%
Year-over-year change: -33.00%

Foreclosure sales as % of 90+: 1.78%
Month-over-month change: -8.92%
Year-over-year change: 11.48%

Number of properties that are 30 or more days past due, but not in foreclosure: 1,925,000
Month-over-month change: 41,000
Year-over-year change: -399,000

Number of properties that are 90 or more days past due, but not in foreclosure: 510,000
Month-over-month change: 11,000
Year-over-year change: -156,000

Number of properties in foreclosure pre-sale inventory: 268,000
Month-over-month change: 1,000
Year-over-year change: -69,000

Number of properties that are 30 or more days past due or in foreclosure: 2,193,000
Month-over-month change: 41,000
Year-over-year change: -468,000

Top 5 States by Non-Current Percentage

Bottom 5 States by Non-Current Percentage

Top 5 States by 90+ Days Delinquent Percentage

Top 5 States by 6-Month Improvement in Non-Current Percentage

Top 5 States by 6-Month Deterioration in Non-Current Percentage

Homeowners 62 and older saw their housing wealth increase 1.4 percent or $97 billion in the third quarter to $6.97 trillion from Q2 2018, according to the NRMLA-RiskSpan Reverse Mortgage Market Index from the National Reverse Mortgage Lenders Association.

The RMMI rose in Q3 2018 to 251.57, another all-time high since the index was first published in 2000. The increase in senior homeowner's wealth was mainly driven by an estimated 1.3 percent or $115 billion increase in senior home values and offset by a 1.1 percent or $17.4 billion increase of senior-held mortgage debt.

"At a time when we're seeing stock market volatility and the potential for a mild recession in the near future, it's the perfect time for families to gather and take stock of their retirement resources and make necessary adjustments to ensure continued financial security," said Peter Bell, president and CEO of NRMLA. "Housing wealth should be considered with other financial assets."

The NRMLA-RiskSpan Reverse Mortgage Market Index is released quarterly.

The National Association of Mortgage brokers is launching NAMB All-In, an open platform that will be available to members at no cost. It’s slated to go live on Jan. 1, 2019.

“We are thrilled to announce this new tool and are eager to watch our members gravitate to NAMB All-In to take advantage of the opportunity for this new solution to enhance their workflows and make their operations seamless,” said Richard Bettencourt, president of NAMB. “We chose Calyx as our partner because its solutions are well-accepted by the broker community and easy to use.”

Powered by Calyx Software, which offers comprehensive mortgage software solutions, NAMB All-In provides mortgage professionals with the three-essential components they need to conduct business: a point-of-sale solution, a cloud-based loan origination system, and a single point of access to premier wholesale lenders.

[caption id="attachment_8369" align="alignleft" width="287"] NAMB AIl-In ensures a seamless exchange of  transaction data.[/caption]

The POS allows borrowers to initiate a loan application and begin the asset verification process. The LOS helps mortgage brokers manage all incoming online applications, exchange and store documents, and provides simultaneous support for both the current and upcoming Uniform Residential Loan Application.

The Calyx Wholesaler MarketPlace is the third component of NAMB All-In. It enables mortgage brokers to connect with industry-leading wholesale lenders in a single portal and seamlessly exchange data. Using this portal, wholesaler lenders can import 1003 and deliver completed documents, such as the loan estimate, closing disclosure, conditions, locks and more, directly into the broker’s software.

Participating wholesale a lenders are Stearns Lending, Plaza Home Mortgage, Quicken Loans, Freedom Mortgage, Caliber Home Loans, and United Wholesale Mortgage. Additional lenders plan to begin participating in early next year.

In addition, because NAMB believes in an open market that allows brokers to choose which lenders they want to do business with, brokers can still export a Fannie Mae 3.2 file to work with any wholesaler that is not in the network.

“Calyx is committed to making the mortgage process easier for everyone: brokers, wholesalers and borrowers,” said Bob Dougherty, executive vice president of business development at Calyx. “We are pleased to work with NAMB to provide their members with a solution that will not only simplify and speed up the origination process for them and the wholesalers they work with, but also improve the borrower experience.”