FBI Launches Criminal Probe into New York AG Letitia James for Mortgage Fraud
ALBANY, N.Y. — The FBI has opened a criminal investigation into allegations that New York Attorney General Letitia James falsified mortgage records related to property purchases in Virginia and Brooklyn, according to…
Pennsylvania attorney general sues mortgage brokers over kickback scheme
HARRISBURG, Pa. — Pennsylvania Attorney General Michelle Henry has filed a civil lawsuit against Lehigh Valley-based mortgage brokers and their manager, Barry Newhart, accusing them of orchestrating a kickback scheme with real…
New Jersey Bank engaged in discriminatory mortgage redlining practices, report
TRENTON, N.J. — Attorney General Matthew J. Platkin and the Division on Civil Rights (DCR) released a report on Tuesday revealing findings of unlawful mortgage redlining by Republic First Bank in New…
Real Estate Investor Admits to $54.7 Million Mortgage Fraud Scheme
TRENTON, NJ – Aron Puretz, a 53-year-old real estate investor from New Jersey, pleaded guilty today to participating in a sophisticated mortgage fraud conspiracy. Over several years, Puretz and his associates fraudulently…
Chicago Businessman Pleads Guilty to Federal Fraud Charge in Connection With Reverse Mortgage Scheme Targeting Elderly Homeowners
MARK STEVEN DIAMOND schemed with others to induce homeowners to unwittingly obtain reverse mortgage loans to pay for purported home repairs that Diamond offered to perform. Diamond and the co-schemers targeted elderly…
New Jersey Mortgage Lending Employees Charged in Fraud Scheme
NEWARK, NJ – Christopher J. Gallo, 44, of Old Tappan, New Jersey, and Mehmet A. Elmas, 32, a U.S. citizen residing in Turkey, have been charged with conspiracy to commit bank fraud,…
Home Sales Drop In March As Mortgage Rates Surge Over 7%
Existing home sales shrank in March as consumers respond to continuing price increases and rising mortgage rates. Sales for existing homes fell 4.3% in March compared to the previous month and 3.7%…
Baltimore County Man to Pay Off Mortgage with $50K Powerball Win
BALTIMORE, MD – A Baltimore County resident has claimed a $50,000 prize from the Powerball drawing on March 27, with plans to use his winnings to pay off his home mortgage. The…
UK house prices beat forecasts as mortgage rates edge down
By David Milliken LONDON (Reuters) -British house prices rose this month more than economists had expected, adding to signs that the squeeze from high interest rates is beginning to ease, figures from…
US new home sales rebound in December as mortgage rate retreat
WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased strongly in December, boosted by declining mortgage rates and a persistent shortage of previously owned houses on the market. New home sales…
US mortgage rates fall to 8-month low, says Freddie Mac
By Amina Niasse NEW YORK (Reuters) – U.S. mortgage rates fell this week to the lowest since May 2023, Freddie Mac reported on Thursday, providing a possible boost to buyer traffic in…
South Jersey Politician Charged in Mortgage Fraud Scheme
TRENTON, N.J. – Nathaniel Anderson, deputy mayor of Willingboro Township, and Chrisone D. Anderson, a business associate, have been charged with orchestrating a fraudulent mortgage scheme, U.S. Attorney Philip R. Sellinger announced…
Mortgage rates tick up for a second week -Freddie Mac
By Amina Niasse NEW YORK (Reuters) – Mortgage rates edged higher for a second week, a survey released on Thursday showed, but they remain near the lowest levels since early last summer,…
Mortgage rates continue to soften – Freddie Mac
By Amina Niasse NEW YORK (Reuters) – Mortgage rates fell to a six-month low this week to the lowest figure since June, indicating relief has come to prospective buyers on the back…
US 30-year mortgage rate drops to 6.83%, its lowest since June
By Ann Saphir (Reuters) – The interest rate on the most common type of U.S. home mortgage dropped last week to 6.83%, its lowest since June, as the Federal Reserve signaled it…
US mortgage rates fall below 7% for first time since August
(Reuters) – The average interest rate on the most popular U.S. home loan fell this week to below 7% for the first time since August as Treasury market yields dropped sharply after…
US mortgage rates fall to nearly 4-month low – Freddie Mac
(Reuters) – Interest rates on the most common type of U.S. home loan fell for a sixth straight week to the lowest in almost four months on the back of a bond…
Apartment REITs see silver lining as high mortgage rates force tenants to stay put
By Ananta Agarwal (Reuters) – Real estate investment trusts (REITs) that own and manage apartments are expected to see a bump in their revenue from a rise in renewed leases and rental…
Muddy Waters is short Blackstone Mortgage Trust REIT
By Nell Mackenzie LONDON (Reuters) – Blackstone’s Mortgage Trust shares fell as much as 9% on Wednesday after short-selling hedge fund Muddy Waters said that it had taken out a short position…
US commercial mortgage distress rises in November on office woes -KBRA
By Matt Tracy (Reuters) – Late payments on U.S. commercial property loans rose in November, driven by growing distress among office properties, according to a new report by Kroll Bond Rating Agency.…
Bank of America pays $12 million fine for misreporting mortgage data
By Jonathan Stempel (Reuters) -Bank of America agreed to pay a $12 million fine to settle U.S. regulatory charges it routinely submitted inaccurate information about mortgage applicants to the federal government, violating…
Bank of Spain Governor sees no need to extend mortgage support
MADRID (Reuters) – Bank of Spain Governor Pablo Hernandez de Cos on Monday said he did not see the need at the moment for banks to potentially extend mortgage relief measures for…
Sberbank CEO expects ‘serious cooling’ in Russian mortgage market
By Elena Fabrichnaya MOSCOW (Reuters) – Russia’s biggest bank Sberbank expects a sharp cooling of the mortgage market following an expected 80% rise in mortgage lending this year, CEO German Gref said…
Bank Loan Brokers Caught in Mortgage Crisis Fraud
BOSTON, MA – Ted Capodilupo, Joseph Masci, and Brian Ferris faced sentencing today for orchestrating a scheme to deceive a local bank and the U.S. Small Business Administration (SBA), causing significant financial…
$10 Million Settlement Reached After Nationstar Mortgage Mishap
PHILADELPHIA, PA – In a joint endeavor, Attorney General Michelle Henry led a coalition of 50 Attorneys General to announce a $10 million settlement with payment processor ACI Worldwide, over a colossal…
Mortgage rates reach highest since November 2000 – MBA
By Amina Niasse NEW YORK (Reuters) – U.S. mortgage interest rates rose to the highest since November 2000 last week, helping to drive home loan application volumes to the lowest in 27…
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