The Securities and Exchange Commission is offering a reward to the whistleblower that revealed a scheme at First Mortgage Corporation that involved several of the company’s senior executives lying about the performance of the mortgages the company originated, re-securitizing them, and defrauding investors out of $7.5 million – if in fact there is one.
U.S. homeownership hits record low: Gallup Home prices up the most since 2006 Fannie Mae net income retreats to $2.4B in Q1 Stories for March 2007 – Google Inc. disclosed in its 2006 annual report on Thursday that the U.S. Securities and Exchange Commission nearly a year ago had called into question how it accounted for income taxes. U.S. incomes.NAR: Buyer traffic up 29% from a year ago Wells Fargo will not join BofA in foreclosure suspension Zombie home agreement with banks a good step, but state legislation needed, officials say – The Department of Financial Services announced Monday that the agreement with 11 firms including wells fargo and Bank of America sets out "best practices" for maintaining vacant homes in foreclosure ..June new home sales up more than expected; 29% rise in. – Just go by NAR’s data and you will see YoY prices are down 18% in NJ. If seller’s are pricing their houses 15-20% below, they will sell fast. I am negotiating with this buyer who has listed his house 4% below 2006-7 peak. He is not going to see more traffic at his open houses unless he gets realistic.2017 was the best year for existing home sales since 2006 – Despite a weak December ending a trend of two straight months of increases, there were still more existing homes sold last year than in any year since 2006. The most recent. home price for all.PropertyRadar: California real estate market stuck in low gear JPMorgan reportedly selling $373M prime new issue RMBS · To keep RMBS factories humming, lots of new mortgages were always necessary. Each time the supply of "qualified" borrowers began to dwindle, lending standards were relaxed even more. By 2006, pretty much anyone – including the worst possible credit risks – could get a mortgage and buy a home with little or no money down.The real prize. android owners stuck with devices slinging Android Jelly Bean (introduced in 2013) or older. There’s no question that access to any of these apps would make the Apple Watch more.US pride hits record low, poll shows As the US celebrates Independence Day, a new poll suggests less Americans feel pride in their country than at any other time since 2001. While 70 per cent of US adults claim to be proud to be Americans, only 45 per cent identified as "extremely proud" in the survey, marking the second consecutive year that this falls below the majority level.Foreclosures, short sales increased 1% in Dec. Short sale can be a win-win-win – for buyer, seller, and mortgage alike.. updated sep 18, 2018. on their home loans; i.e., they owed more on their homes than the homes were worth in value.. 1. reduced price. Primarily, the big benefit is the increased odds of getting the home for a reduced price,
The financial service company has relaxed its lending standards on mortgages. to Reuters. Wells Fargo (WFC) lowered the minimum credit score required for high-priced, fixed-rate home loans to 700. Bank jumbo mortgage underwriting standards weakened in the third quarter by the most in three years and as profitability remains under pressure.
Mortgage Company President Charged with Stealing $3 Million from Ginnie Mae. HousingWire, Aug. 18, 2016–Lane, Ben. Mortgage Security Inc. founder Robert Pena accused of diverting Ginnie Mae funds for personal use.
The president of a Falmouth, Massachusetts-based mortgage servicing company was arrested on Thursday for allegedly embezzling $3 million in payments on home loans that were sold as securities.
Trulia: Home affordability slips for middle class Benjamin Lawsky just made it easier to be a mortgage banker in New York In the lingo of the mortgage trade, a “zombie property” occurs. act was conspicuously not echoed by either Cuomo or nydfs superintendent benjamin lawsky. While the New York approach bypassed the.Ginnie Mae Setting Historic Pace in August #Brexit: Here is the immediate impact on U.S. mortgage and housing finance On April 18, 2019 the U.S. Department of Housing and Urban Development (HUD) issued mortgagee letter 2019-06 setting forth new documentation requirements for down payment assistance provided by government entities to be used in connection with federal housing administration (fha) insured mortgage loans.A Ginnie Mae "In Every Pot" The White House’s mortgage relief strategy to enable underwater homeowners to modify their current mortgages on more-favorable terms is too timid.Trulia report shows buying cheaper than renting in most major metro areas Renting or Owning a Home in Retirement: Pros and Cons – Extra Mile – Read on to learn if it's better to rent or buy a house as you near retirement.. overwhelming in the event of a job loss, major illness or other crisis.. year of growth, according to the most recent State of the Nation's Housing Report.. cheaper than renting in 100 metro areas in the United States – this even.
Mortgage Company President Charged with Defrauding Ginnie Mae BOSTON – The president and founder of a Falmouth mortgage company was charged in U.S.. Jump to. Sections of this page.. See more of Falmouth Police Department on Facebook. Log In. Forgot account? or. Create New Account.
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Mortgage company president charged with stealing $3 million from Ginnie Mae The founder and president of a now-defunct mortgage company could spend 20 years or more in prison. He allegedly diverted nearly $3 million away from Ginnie Mae and into secret bank accounts for his own personal use.
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· BOSTON – The president and founder of a Falmouth mortgage company pleaded guilty yesterday in federal court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately .5 million. robert Pena, 68, of Falmouth, pleaded guilty to one count of conspiracy and six counts of wire fraud.
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