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…
Chinese city to start building stalled housing projects amid mortgage boycott
BEIJING (Reuters) – The Chinese city of Zhengzhou vowed to start building all stalled housing projects within 30 days, by making good use of special loans, asking developers to return misappropriated funds,…
Citigroup makes small cuts in mortgage workforce as housing market cools
(Reuters) – Citigroup Inc on Friday said it has slightly trimmed its mortgage workforce, due to an internal streamlining of functions. Less than 100 positions were affected, according to Bloomberg News, which…
Former Owner and Executive at Long Island Mortgage Lender Sentenced to 24 Months’ Imprisonment for $8.9 Million Fraud
Earlier today, at the federal courthouse in Central Islip, Edward E. Bohm, formerly the President of Sales and part-owner of mortgage lender Vanguard Funding, LLC (Vanguard), based in Garden City, New York…
Former Real Estate Attorney and Wife Sentenced for Mortgage Fraud and Tax Charges
BOSTON – A former Massachusetts attorney and his wife have been sentenced in federal court in Boston in connection with various mortgage fraud schemes. Barry Wayne Plunkett Jr., 62, and Nancy Plunkett,…
Mortgage Loan Officer and Real Estate Agents Charged in Mortgage Fraud Scheme in Central Valley
FRESNO, Calif. — A federal grand jury returned an indictment against German Antonio Lopez-Velasquez, 55, of Modesto; Marko Antonio Lopez, 27, of Modesto; and Lisa Marie Santos, 48, of Long Beach, charging…
Mortgage Company to Pay $20 Million Settlement with City for Denying Loans Based on Location
PHILADELPHIA, PA – A mortgage company has settled to a $20 million payout for targeting minority neighborhoods in Philadelphia, deny loans simply based on where they live. According to the Pennsylvania Attorney…
Justice Department, Consumer Financial Protection Bureau, and Three State Attorneys General Reach Settlements With Trident Mortgage Company To Resolve Lending Discrimination Claims
PHILADELPHIA – United States Attorney Jacqueline C. Romero announced that the Department of Justice, the Consumer Financial Protection Bureau (CFPB), and the Attorneys General of Pennsylvania, New Jersey, and Delaware announced today…
U.S. pending home sales tumble in June as mortgage rate soar
WASHINGTON – Contracts to buy U.S. previously owned homes fell more than expected in June as rising mortgage rates and higher house prices continued to reduce affordability for entry-level and first-time buyers.…
Analysis: China’s mortgage boycott spurs shakeout among strapped developers
By Clare Jim HONG KONG – A revolt by Chinese homebuyers, who have threatened to stop paying mortgages on hundreds of unfinished housing projects, is spurring a shakeout among cash-starved property developers…
New York Man Admits Role in Mortgage Fraud Scheme Involving Hartford Apartment Buildings
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that JACOB DEUTSCH, 57, of Brooklyn, New York, waived his right to be indicted and pleaded guilty today before U.S.…
Big banks’ Q2 earnings to shed light on gloomy U.S. mortgage outlook
By Elizabeth Dilts Marshall NEW YORK – U.S. analysts and economists will be watching to see how banks’ mortgage businesses are faring during their second-quarter earnings this month, as U.S. Federal Reserve…
Freedom Mortgage Announces Winner of the 2022 Celebrate Freedom Award
Dr. Matthew R. Burke is this year’s winner of the Freedom Mortgage Celebrate Freedom Award. Tweet this A former Safety Superintendent in the U.S. Air Force, Burke was severely injured during his…
LANDSEA HOMES ANNOUNCES LAUNCH OF ‘LANDSEA MORTGAGE’
Homebuyers now have access to a seamless and full-service home financing experience with Landsea Mortgage NEWPORT BEACH, Calif., July 6, 2022 — Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”),…
Australia’s ‘big four’ banks pass on full 50 bp variable mortgage rate hike
(Reuters) – Australia’s “big four” lenders raised their home loan variable interest rates on Wednesday by 50 basis points (bps) per annum, passing on the central bank’s third consecutive rate hike in…
Canadian regulator tightens rules for riskier mortgage products
TORONTO – Canada’s financial regulator said on Tuesday it would tighten rules for riskier home loan products, in a bid to address concern over high levels of mortgage debt driven by record-low…
California Mortgage Lender Agrees to Pay More Than $1 Million to Resolve Fraud Allegations
Spokane, Washington – Vanessa R. Waldref, the United States Attorney for the Eastern District of Washington, announced today that American Financial Network, Inc., a mortgage lender based in Brea, California, has agreed…
Canada’s CIBC ‘comfortable’ with mortgage book, watching for signs of stress
By Nichola Saminather TORONTO – Canadian Imperial Bank of Commerce is “comfortable” with the quality of its mortgage book, but is on the lookout for signs of stress, its chief risk officer…
Freedom Mortgage Kicks Off 10th Anniversary of the Rucksacks to Backpacks Campaign
Join Freedom Mortgage’s fundraiser to provide school supplies to children of military families via the USO. Tweet this Money raised from the fundraiser will benefit USO locations across the U.S., including Arizona,…
Bank of Canada: some Canadians could see mortgage payments jump by 45% in 2025-26 as rates rise
By David Ljunggren OTTAWA – Some Canadians who took out mortgages in 2020-21 could see their monthly payments jump by as much as 45% in 2025-26, given rising rates, according to a…
Mortgage market index falls to 22-year low -MBA
(Reuters) – A measure of mortgage loan application volume fell to its lowest level in 22 years last week, Mortgage Bankers Association data showed on Wednesday, as the Federal Reserve’s moves to…
Australian lenders lift variable mortgage rates after RBA hike
(Reuters) – Australia’s major lenders raised their home loan variable interest rates on Wednesday by 50 basis points per annum, a day after the central bank surprised markets with its hawkish tone.…
Former Augusta man sentenced to prison for multi-million-dollar scheme to defraud a mortgage lender
AUGUSTA, GA: A former Richmond County man has been sentenced to federal prison for bank and bankruptcy fraud related to his purchase of an Augusta apartment complex. Jerome Walter Kiggundu, 38, now…
Salem Man Found Guilty on All Counts in Decade-Long Mortgage Fraud Scheme
BOSTON – A former self-proclaimed Salem real estate developer has been convicted by a federal jury in Boston in connection with a 10-year mortgage fraud scheme involving at least two dozen fraudulent…
Canada housing boom to halt next year on higher mortgage rates – Reuters poll
By Shrutee Sarkar BENGALURU – Canadian house price inflation will slow to 10% this year as the Bank of Canada raises interest rates aggressively, a Reuters poll of property market experts found.…
Australia’s housing boom to deflate as mortgage rates rise: Reuters poll
By Vivek Mishra BENGALURU – Rampant rises in Australian house prices will grind almost to a halt this year, and an 8% decline is expected in 2023 as a cost-of-living crisis worsens…
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