Lawsuits have been filed against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises.
Continue Reading...Memphis Flyer First Horizon is the Memphis owner of First Tennessee, the state’s largest bank and a force in the national mortgage market until it sold off most of the business late in 2008. In going to court…
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“As mortgage fraud continues to impact our communities we also continue working closely with the IRS and FBI to hold those responsible for this fraud accountable.” The indictment alleges that…
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ABC Action News Shaun Reid, 32, of Tampa, was charged with grand theft of $100000 or more, mortgage fraud by material misstatement and mortgage fraud by receiving proceeds, jail records show. The Florida Departm
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The five biggest mortgage servicers have cancelled a planned negotiating session with representatives of the 50 State Attorneys General in apparent protest over a federal regulator filing suit against them…
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By Naples Daily News staff report – A 41-year-old Naples builder indicted on mortgage fraud charges has been acquitted of fraudulently using more than $1 million in bank draws. A federal jury deliberated roughly…
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Reuters This is perhaps one of the most insulting claims ever leveled in a mortgage-fraud lawsuit. Bank of America would probably feel outraged if it weren’t so overwhelmed with its nauseating plunge…
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Shafik Hirji, 53, Las Vegas, Nevada, who unlawfully obtained financing on the home of one of his acquaintances, was indicted on three counts of forgery and one count of theft for obtaining the loan on the victim’s home and embezzling the proceeds.
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In an effort to help families avoid mortgage scams, more than $10 million in housing counseling grants have been issued. This is unspent funding from the 2010 appropriation that was re-competed and awarded to HUD-approved counseling agencies.
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Home Move – Mortgage loan servicing companies and investors on the secondary mortgage market demand and get more and broader scrutiny by lenders of all players in home sale transactions. BY RICHARD MIZE richardmiz
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