Rep. John Ratcliffe (R-Texas) voted today for the passage of the Community Institution Mortgage Relief Act of 2017 (H.R. 3971) in the U.S. House of Representatives. This bill will reduce compliance costs for smaller community financial institutions by exempting them from certain escrow or impound requirements.
A federal jury has found the entities formerly known as Allied Home Mortgage Capital Corporation (Allied Capital) and Allied Home Mortgage Corporation (Allied Corporation) as well as president and CEO Jim C. Hodge liable in connection with more than a decade of fraudulent misconduct related to Allied’s participation in the Federal Housing Administration (FHA) mortgage insurance program. Samuel L. Bryant Investments – Houston Warehouse Space for Rent & Lease
The Conference of State Bank Supervisors (CSBS), and the American Association of Residential Mortgage Regulators (AARMR) announced today that the Texas Department of Savings and Mortgage Lending (the Department or SML) has received a certificate of accreditation for mortgage supervision. This reaccreditation certifies that the Department maintains the standards and practices in state supervision set by the CSBS/AARMR Mortgage Accreditation Program. Caroline C. Jones serves as the Commissioner of the Department
Free pre- and post-purchase education, mortgage credit courses result in more informed buyers positioned for success. First time home buying is among the biggest and most complex decisions most of us will make in our lives. Besides the financial commitment, buying a home also comes with a whole new world of unfamiliar terms and responsibilities.
MERSCORP Holdings, Inc. today announced that the Dallas County District Court, 101st Judicial District, issued a final judgment in MERS’ favor recognizing MERS’ right, as beneficiary, to notice of a lawsuit under the United States and Texas Constitutions.
“The purpose of this loan is to provide bridge financing so the borrower can refinance the maturing existing loan, and then complete a property renovation to achieve operational upside before obtaining a new permanent loan,” explained Vic Clark, Managing Director at Hunt Mortgage Group.”
Hunt Mortgage Group, a commercial real estate lender, announced today it has closed its first loan in the healthcare sector through its Proprietary Loan Group, the firm’s new balance sheet lending platform launched earlier this year
Passco Companies, LLC has acquired Lone Oak Apartments, a recently completed 304-unit, Class-A garden-style multifamily community located in Round Rock, Texas, a suburb of Austin, according to Gary Goodman, Senior Vice President Acquisitions of Passco Companies.
The U.S. Department of Housing and Urban Development’s Mortgagee Review Board (MRB) today announced settlement agreements with two Texas mortgage lenders following allegations they engaged in a scheme to charge bogus fees to consumers, which improperly inflated mortgages for borrowers purchasing newly constructed manufactured housing
Hunt Mortgage Group, a commercial real estate lender, announced today that it has provided bridge financing in the amount of $10.5 million to enable the acquisition and rehabilitation of Surrey Row Apartments, a multifamily property located in Dallas, Texas. The loan represents 80% of costs.
MERSCORP Holdings, Inc. today announced that the United States Court of Appeals for the Fifth Circuit recently affirmed a ruling from the U.S. District Court for the Northern District of Texas in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and its co-defendant, dismissing all of the claims filed by Dallas, Brazoria and Harris Counties, Texas
This and every month, TDHCA lays out everything in its basket of home buying options for affordable taste buds, from traditional 30-year fixed rate loans and down payment and closing cost assistance, to mortgage credits, and even a combo plate that includes a loan and mortgage credits. Interested? Here’s a spoonful of favorite TDHCA-administered programs
According to information presented in court, from July 2006 to March 2008, in the Eastern District of Texas and elsewhere, Santens conspired with Irons, Limbrick, Preston, Patterson, and Allen to engage in monetary transactions in criminally-derived property of a value greater than $10,000, which property was derived from wire fraud, that is a scheme to induce lending institutions to fund mortgage loans for residential properties for which the property values had been fraudulently inflated for buyers who had been fraudulently qualified for loans.
MERSCORP Holdings, Inc. today announced two recent decisions in favor of Mortgage Electronic Registration Systems, Inc. (MERS) from the United States Court of Appeals for the Fifth Circuit and the United States District Court for the Southern District of Texas. Both decisions affirmed MERS’ role as mortgagee, as well as the validity of its assignments.
Committee Leaders Announce PATH Act to End Taxpayer Bailout and Create Sustainable Housing Finance...
Washington, DC - July 11, 2013 - (RealEstateRama) -- Leaders on the Financial Services Committee today announced the PATH Act – the Protecting American Taxpayers and Homeowners Act – to create a sustainable housing finance system. The proposal
WASHINGTON, D.C. - March 18, 2013 - (RealEstateRama) -- House Bill 2864 protects homeowners by mandating that banks cannot foreclose on a property unless they show proof that the borrowers received the foreclosure notice by certified mail. This bill also requires that the mortgage servicers provide one point of contact for all dealings with consumers, thus reducing communication issues between the mortgage servicers' offices and the borrowers.
DALLAS - March 4, 2013 - (RealEstateRama) -- Patience Lavon Jackson, 50, of Arlington, Texas, was sentenced this afternoon by U.S. District Judge Jane J. Boyle to 63 months in federal prison and ordered to pay $2,801,661.95 in restitution, following her conviction for leading a conspiracy to defraud residential mortgage lenders, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Judge Boyle ordered that Jackson surrender to the Bureau of Prisons on April 3, 2013.
WASHINGTON, D.C. - February 6, 2013 - (RealEstateRama) -- Thank you, Mr. Chairman, for holding this important hearing examining the Federal Housing Administration’s (FHA) role in the mortgage insurance market. As you mentioned, this is the first in a series of hearings. I look forward to holding similar hearings in my Subcommittee. I also look forward to working with Ranking Member Waters and Ranking Member Capuano as we seek to reform FHA and nurse it back to financial health.
AUSTIN - February 1, 2013 - (RealEstateRama) -- Texas Attorney General Greg Abbott today announced that Texas, 44 other states and the District of Columbia have concluded an extended, nationwide investigation into Florida-based Lender Processing Services Inc. (LPS) and its subsidiaries’ unlawful mortgage servicing practices. Under a multistate settlement agreement negotiated by the states, LPS and its subsidiaries must dramatically improve their loan servicing practices, only allow authorized corporate officers to sign foreclosure documents, and pay a $120 million penalty – including approximately $5.76 million for the State of Texas.
WASHINGTON, D.C. - January 11, 2012 - (RealEstateRama) -- Community Associations Institute (CAI) is studying the long-awaited federal Qualified Mortgage (QM) standards published Jan. 10 by the Consumer Financial Protection Bureau (CFPB). The new guidelines, required by the Wall Street Reform and Consumer Protection Act (commonly known as the Dodd Frank Act), establish minimum requirements for all mortgage loans