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  •   Mortgage fraud investigation nabs more than 100 in Florida
United States Attorney A. Brian Albritton has announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is holding events throughout the district to highlight the announcement. There are currently mortgage fraud-related charges pending against approximately 500 defendants in federal mortgage fraud cases around the nation.
NationalMortgageProfessional.com,NMP Media Services,   11/05/2009

  •   Managing Your Business and Estate
November 05, 2009 /24-7PressRelease/ -- Managing Your Business and Estate
24/7 Press Release Newswire,24/7 Media,   11/05/2009

  •   Hawaii Mortgage Lender Faces Serious Consequences from HUD
In recent news from HUD's Mortgage Review Board, a proposal to permanently withdraw the HUD/FHA approval of Financial Mortgage USA, Inc. (FMUSA) was announced. Based in Hawaii, FMUSA is a Home Equity Conversion Mortgage (HECM or reverse mortgage) lender.
DSNews.com,Admin,   11/04/2009

  •   Reform Bill`s New Risk Retention Clause Vexes Small Mortgage Lenders
The risk retention provision of the House Financial Services Committee's "too-big-to-fail" draft legislation will cripple the ability of community-based lenders to get secondary mortgage market funding and could have the ironic effect of further concentrating mortgage lending, several industry trade group's are warning lawmakers.
DSNews.com,Admin,   11/04/2009

  •   CMBS Deal Could Open TALF to Secondary Commercial Market
The Federal Reserve may be close to doing its first deal using an emergency credit facility to aid the sale of commercial mortgage-backed securities (CMBS). The Fed decided in June to extend its Term Asset-Backed Securities Loan Facility (TALF),designed to help jump start securitization markets, to CMBS, but has been cautious about actually deploying the central bank credit for these securities purchases amid concerns about the commercial real estate sector. The agency, though, is reportedly close to completing due diligence on an issue prepared by Goldman Sachs for a $400 million loan.
DSNews.com,Admin,   11/04/2009

  •   Mainly First-time Homebuyers to Benefit from Tax Credit Extension: Survey
With the proposed extension and modification of the tax credit for homebuyers pending before Congress, results of a real estate market survey completed by Campbell/Inside Mortgage Finance Monthly show that first-time homebuyers will benefit more than existing homeowners.
DSNews.com,Admin,   11/04/2009