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…
U.S. Attorney’s Office Collects More Than $330k in Restitution from Defendant in Mortgage Fraud Scheme
Acting U.S. Attorney Michelle M. Baeppler announced that the Financial Litigation Program (FLP) of the U.S. Attorney’s Office for the Northern District of Ohio collected $333,549.82 in restitution from a defendant convicted…
Mortgage Loan Officer Charged With Bank Fraud and Aggravated Identity Theft
Orlando, FL –United States Attorney Roger B. Handberg announces the return of an indictment charging Evelisse Hernandez (40, Kissimmee) with four counts of bank fraud and four counts of aggravated identity theft.…
Black Knight’s First Look: Mortgage Delinquencies Hit Yet Another Record Low in April, Driven by Continued Improvement Among Seriously Past-Due Loans
The national delinquency rate fell to 2.80% in April, down four basis points from March, hitting a new record low for the second consecutive month Overall delinquencies are down nearly 40% from…
Leader of Nevada City-Based Mortgage Fraud Scheme Sentenced to 15 Years in Prison
SACRAMENTO, Calif. — James Christopher Castle, 57, formerly of Petaluma, was sentenced today to 15 years in prison for a bank fraud scheme that sought to fraudulently eliminate home mortgages and then…
U.S. household debt nears $16 trln, but mortgage, auto loan demand wanes – NY Fed
(Reuters) – U.S. household debt rose to a record $15.84 trillion in the first quarter driven almost entirely by a $250 billion increase in home loan balances, but the rise was the…
NZ cenbank to finalise debt servicing curbs framework for mortgage lending by late 2022
(Reuters) – The Reserve Bank of New Zealand on Wednesday said it intends to finalise a framework on debt servicing restrictions (DSRs) on residential mortgage lending by late 2022 and be able…
Black Knight: Mortgage Delinquencies Hit Record Low in March, Driven by Both Seasonal and Broader Economic Improvements; Prepays Up Despite Rate Increases
The national delinquency rate dropped by more than half a percentage point in March, falling to 2.84% and shattering the previous record low of 3.22% in January 2020 While March typically sees…
U.S. homebuilders to feel pricing pinch from rising mortgage rates, inflation
By Kannaki Deka and Abhijith Ganapavaram (Reuters) – U.S. homebuilders will likely find it harder to raise home prices in the coming months as rising mortgage rates and inflation cut into demand,…
U.S. mortgage interest rates reach a 12 year high, demand falters
(Reuters) – The average interest rate on the most popular U.S. home loan climbed to a 12 year high last week and fewer homebuyers sought properties in a sign that the Federal…
U.S. homebuilder sentiment drops to seven-month low amid surging mortgage rates
By Lucia Mutikani WASHINGTON – Confidence among U.S. single-family homebuilders fell to a seven-month low in April as surging mortgage rates and snarled supply chains boosted housing costs, shutting out some first-time…
U.S. mortgage interest rates rise to 4.9% – MBA
(Reuters) – The average interest rate on the most popular U.S. home loan kept climbing last week to stay at more than a three year high, a survey showed on Wednesday, as…
Vallejo Woman Agrees to Resolve False Claims Act Allegations Involving Food Stamp and Unemployment Mortgage Assistance Programs
SACRAMENTO, Calif. — Dorothy Natividad, of Vallejo, has paid $116,900 in damages and civil penalties to resolve allegations that she knowingly made false statements to obtain benefits from both the Food Stamp/Supplemental…
Mortgage Short Sale Negotiator Sentenced for Defrauding Mortgage Lenders
BOSTON – The principal and co-founder of a mortgage short sale assistance company was sentenced yesterday in connection with defrauding mortgage lenders and investors out of nearly $500,000 in proceeds from about…
U.S. mortgage rates jump by the most in 11 years -MBA
(Reuters) – The interest rate on the most popular U.S. home loan jumped last week by the most in 11 years as bond market investors rapidly repositioned for the Federal Reserve to…
‘Significant Uncertainty’: Mortgage Demand Plummets Amid Sky-High Rates, Massive Inflation
‘Significant Uncertainty’: Mortgage Demand Plummets Amid Sky-High Rates, Massive Inflation Harry Wilmerding on March 16, 2022 Mortgage demand plummeted in mid March after a sharp increase in rates and inflation, the Mortage…
Essex County Man Sentenced to 108 Months in Prison for Mortgage and Securities Fraud Schemes
NEWARK, N.J. – An Essex County, New Jersey, man was sentenced today to 108 months in prison for conspiring to obtain mortgage loans to finance the sale of properties to unqualified buyers,…
California Man Pleads Guilty For Operating A Multi-Million Dollar Mortgage Modification Fraud
Damian Williams, the United States Attorney for the Southern District of New York, and Daniel B. Brubaker, Inspector-in-Charge of the New York Office of the United States Postal Inspection Service (“USPIS”), announced…
Former Real Estate Attorney and Wife Plead Guilty to Mortgage Fraud and Tax Charges
BOSTON – A former Massachusetts attorney and his wife pleaded guilty today in federal court in Boston in connection with various mortgage fraud schemes. Barry Wayne Plunkett Jr., 61, and Nancy Plunkett,…
Russia’s VTB to hike mortgage rates by four percentage points to 15.3%
MOSCOW – Russia’s No. 2 lender VTB will hike mortgage rates by four percentgae points to 15.3% from Feb. 28, it said on Sunday, with harsh new Western sanctions forcing the bank…
Mortgage Applications Plummet As Housing Prices Surged To Record High
Mortgage Applications Plummet As Housing Prices Surged To Record High Harry Wilmerding on February 23, 2022 Mortgage applications plummeted to their lowest level in three years as rates continued to edge higher,…
U.S. mortgage applications tumble last week – MBA
WASHINGTON – U.S. mortgage applications plunged to their lowest level in more than two years last week as rising mortgage rates dampened demand for loans to purchase homes and refinancing activity, a…
U.S. mortgage interest rates top 4% for first time since 2019
– The interest rate on the most popular U.S. home loan surged by the most in nearly two years last week, shooting above the 4% level for the first time since 2019…
U.S. mortgage rates jump to two-year high, further squeezing buyers
By Jonnelle Marte -U.S. mortgage rates increased to a two-year high last week and could keep rising, a trend which may further squeeze first-time buyers struggling to overcome higher home prices and…
New Jersey offering up to $35,000 in financial mortgage assistance for struggling homeowners
TRENTON – Governor Philip D. Murphy and Lt. Governor Sheila Y. Oliver today announced the upcoming launch of the Emergency Rescue Mortgage Assistance Program (ERMA), administered by the New Jersey Housing and…
Real estate agent sentenced for running multi-year mortgage and real estate commission fraud schemes
ATLANTA – Atlanta real estate agent Eric Hill has been sentenced for his participation in a mortgage fraud scheme that netted more than $21 million in fraudulent mortgage loans. Many of the…
Breaking News
