FDIC’s Bair Sets to Shatter CRA Myth Trump calls for Fed to reduce interest rates amid trade war with China Mortgage applications fall on declining refinance activity · The refinance share of mortgage activity increased to its highest level since February 2018, 45.8 percent of total applications, from 42.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.4 percent of total applications. The average loan size for refinance applications reached a survey high at $339,800.Donald Trump called on the Federal Reserve to help win the trade war with China, saying victory would be inevitable if the US central bank matched stimulus moves in Beijing. "China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing," the US president said in a tweet on Tuesday.Fannie Mae Cracks Down on Strategic Defaulters And they’re having such a widespread negative impact that Congress may crack down on. mortgages to Fannie Mae or Freddie Mac or to private companies who market them as securities, meaning they aren.Nowhere." The facts are simple, Bair said. The lending practices that are causing problems today were driven by a desire for more market share and revenue growth, not because the government encouraged certain lending practices. > Read the full item at Housing Wire. > Source: FDIC’s Bair Sets to Shatter CRA "Myth" By KELLY CURRAN.
But some of these lenders are raising funds by promising individual investors a safe, reliable path to real-estate income – when the reality is a high level of risk. Tamsin McMahon and Tim Kiladze.
Flippers got a bad rap over the years because some mortgage brokers and agents were in cahoots with disreputable investors. It is one of the ways that flipping schemes worked: Parties involved Flipping involved four parties: the appraiser, the investor (or real estate agent), a mortgage broker and a straw buyer — all four knew each other.
A Jacksonville real estate lawyer was sentenced to nine years in federal prison Thursday for helping operate a multimillion-dollar mortgage scheme that involved hundreds of local homes. Two Jacksonville mortgage brokers who spent months secretly recording the scheme for the FBI were put on probation.
A real estate investor who escaped from the San Francisco federal courthouse for six days, then was tried and convicted of an $11 million art fraud, has been sentenced to seven years in federal.
In a real estate investment scheme, mortgage fraud perpetrators persuade investors or borrowers to purchase investment properties generally at fraudulently inflated values.
The total dollar loss amount attributed to mortgage fraud is unknown. However, during fiscal year 2008, at least 63 percent of all pending FBI mortgage fraud investigations involved dollar losses of more than $1 million each. The losses reported on depository institution SARs approximated $1.5
April’s depreciating home prices could signal the market reached its peak top 8 states for mortgage fraud Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application in order to obtain a loan or to obtain a larger loan than could have been obtained had the lender or borrower known the truth.. In United States federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud, and money laundering, with penalties of.
The indictment alleges that the Enterprise funded its mortgage fraud operation through a series of investment scams that defrauded more than 50 investors out of more than $27 million. The indictment is just the latest in a series of criminal charges resulting from Operation Wax House, a mortgage fraud investigation that began in North Carolina in 2007.
CoreLogic: 5.1M properties remain in negative equity in Q3 2014 NAR: Monthly existing home sales fall 0.4% in April Women of Influence 2015 Security Bank’s 2015 Women of Influence Security Bank and Springfield Business Journal are proud to bring you the 12th annual Women of Influence. This program honors local women for their contributions to the Springfield area community.NAR Media Relations (@NARMedia) | Twitter – The latest Tweets from NAR Media relations (@narmedia). nar’s media communications team shares the latest real estate news, reports and information impacting consumers, REALTORS and the association. Washington, DC · Year over year, negative equity decreased 22 percent from 3.2 million homes, or 6.3 percent of all mortgaged properties, from Q3 2016 to Q3 2017. “Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years,” said Dr. Frank Nothaft, chief economist for CoreLogic.
Real Estate Investor Sentenced in Mortgage Fraud Scheme. Memphis, TN – A Memphis real estate investor has been sentenced to 30 months in federal prison for his role in a scheme to fraudulently obtain mortgage loans. Lawrence J. Laurenzi, Acting U.S. Attorney, announced the sentence today. An indictment returned last September by.
The number of real-estate fraud investigations initiated by IRS Criminal Investigation (CI) doubled in just two years (from 107 during the 2001 Federal Fiscal Year to 215 during FY 2003, which ended Sept. 30).