Mortgage

Mortgage

Mortgage Insiders Sentenced to Prison

HOUSTON, TX - December 2, 2010 - (RealEstateRama) -- Four employees of Central Capital Financial Group have been sentenced to prison for running a mortgage fraud scheme, United States Attorney José Angel Moreno announced today. United States District Judge Nancy F. Atlas handed down the sentences in federal court in Houston on Monday and Tuesday of this week.

State housing agency offers lowest homebuyer interest rates in program history

AUSTIN, TX - November 5, 2010 - (RealEstateRama) -- The Texas Department of Housing and Community Affairs (TDHCA) today announced that it has reduced interest rates on mortgage loans offered through its Texas First Time Homebuyer Program to historically low levels, further opening the door to safe and responsible homeownership for qualifying low to moderate income Texans.Interest rates on these 30-year, fixed rate mortgage loans have been set at either 4.20 percent or 4.95 percent, depending on which of two types of loans the borrower selects. Rates had previously been set at 4.99 percent or 5.74 percent, respectively. The assisted rate of 4.95 percent is available with funds for down payment and closing cost assistance, helping families overcome what are often the biggest obstacles to buying a home.

More than 200 distressed Texas homeowners to get help with loans

EL PASO, TX - October 6, 2010 - (RealEstateRama) -- Texas Attorney General Greg Abbott today reached an agreement with Wells Fargo & Co. that will provide $5 million in relief to more than 200 Texas homeowners who had “payment option” adjustable rate mortgage loans with the bank.

Fourth Member of Mortgage Fraud Enterprise Sentenced to 28 Years in Prison

CORSICANA, TX - July 21, 2010 - (RealEstateRama) -- The fourth member of a multi-county mortgage fraud scheme today pleaded guilty to a first-degree felony for his role in a multimillion dollar enterprise that defrauded government-backed mortgages.

Houston Man Pleads Guilty in Multi-Million-Dollar Mortgage Fraud Scheme

HOUSTON, TX - June 29, 2010 - (RealEstateRama) -- Adrian Levale Cole has pleaded guilty to committing wire fraud and false representation of a Social Security number arising from a $10 million mortgage fraud scheme, United States Attorney José Angel Moreno announced today.

State housing agency salutes year’s top lenders for first time homebuyer programs

AUSTIN, TX - June 28, 2010 - (RealEstateRama) -- Recognizing the importance of its lender network in meeting its goal of increasing homeownership rates among Texans of all income levels, the Texas Department of Housing and Community Affairs (TDHCA) today announced its “Lenders of the Year” and “Loan Officer of the Year” awards for their participation in and support of TDHCA’s homeownership programs.

June is National Homeownership Month: Lower Mortgage Interest Rate Now Available

Austin, TX - June 11, 2010 - (RealEstateRama) -- The Texas State Affordable Housing Corporation (TSAHC) honors National Homeownership Month by announcing a rate reduction for our First-time Homebuyer Programs which help families achieve their dream of homeownership

State housing agency releases first funds under $500 million of new bond authority for...

AUSTIN, TX - May 21, 2010 - (RealEstateRama) -- The Texas Department of Housing and Community Affairs (TDHCA) announced that beginning today the State will make available the first $50 million under an unprecedented $500 million in new mortgage revenue bond authority.

TDHCA down payment program results in $111.3 million in mortgage loans, 854 new homeowners

AUSTIN, TX - May 6, 2010 - (RealEstateRama) -- As the month of April drew to a close, so too did the offer of an $8,000 federal first time homebuyer tax credit for qualified borrowers.

Texas Residents Indicted in $3.7 Million Mortgage Fraud Scheme

HOUSTON, TX - April 9, 2010 - (RealEstateRama) -- Vincent Wallace Aldridge and Tori Aldridge, both of Fresno, Texas, surrendered themselves to federal authorities as a result of the return of a 19-count indictment arising from an alleged scheme to defraud residential mortgage lenders of more than $3.7 million

Real Estate Investor Ordered to Pay Over $4.1 Million in Restitution

SHERMAN, TX - April 1, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that a 38-year-old Grapevine, Texas, man has been sentenced to federal prison for his role in a mortgage fraud scheme in the Eastern District of Texas.

Tyler, Texas Woman Sentenced in Mortgage Fraud Scheme

TYLER, TX - March 25, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that a 47-year-old Tyler, Texas woman has been sentenced to federal prison for a mortgage fraud scheme in the Eastern District of Texas.

Forty Indicted in Major East Texas Mortgage Fraud Scheme

PLANO, TX - March 16, 2010 - (RealEstateRama) -- U.S. Attorney John M. Bales announced today that 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas.

Jury Convicts Two in Multi-Million Dollar Mortgage Fraud Scheme

HOUSTON, TX - February 5, 2010 - (RealEstateRama) -- A federal jury found David Vasser, 61, a Houston area resident, and Shirely Adger, 52, a Dallas area resident, guilty of wire fraud and conspiracy to commit wire and mail fraud.

State’s $30 million mortgage credit program to help veterans become homeowners

AUSTIN, TX - February 9, 2010 - (RealEstateRama) -- Honoring those who preserve and protect the American Dream to finally live it, Governor Rick Perry and the Texas Department of Housing and Community Affairs (TDHCA) have announced the launching of a new homebuyer initiative with a special focus on veterans.

Marchant Unveils “Mortgage E-Verify Act”

Washington, D.C. - February 5, 2010 - (RealEstateRama) -- Congressman Kenny Marchant (TX-24) issued the following release today after unveiling his new bill, H.R. 4586 the Mortgage E-Verify Act.

PSMI Opens New Office In Belton, TX

Roswell, NM - February 4, 2010 - (RealEstateRama) -- PrimeSource Mortgage, Inc. (PSMI), a leading mortgage brokerage and banking company, and a wholly owned subsidiary of PSM Holdings, Inc. (OTCBB: PSMH) announces the opening of a new office in Belton, TX near the Ft. Hood military base.

Congressman Al Green Praises Passage of the Wall Street Reform and Consumer Protection

Washington, DC - December 14, 2009 - (RealEstateRama) -- Today, Congressman Al Green (TX-09) voted to pass historic legislation that will bring about the biggest changes in financial regulation since the New Deal, by voting in favor of H.R. 4173, the Wall Street Reform and Consumer Protection Act.

Congressman Al Green Urges Mortgage Servicers to Address the Needs of Minority Borrowers

Washington, DC - December 9, 2009 - (RealEstateRama) -- Today Congressman Al Green (TX-09) called on private mortgage servicers to better address the needs of struggling minority homeowners during a hearing of the House Committee on Financial Services regarding the current foreclosure crisis.

Attorney General Abbott Takes Enforcement Action Against Dallas-area ‘Mortgage Rescue’ Operation

DALLAS, TX - November 10, 2009 - (RealEstateRama) -- Texas Attorney General Greg Abbott today took legal action to obtain restitution for a fraudulent “mortgage rescue” firm’s victims.

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Texas condominium sales up, townhome sales down during first half of...

Condominium sales in Texas’s major metro areas increased and townhome sales fell in the first half of 2016, according to the Texas Condominium Mid-Year Sales Report. Released today by the Texas Association of REALTORS®, the report shows that condominium sales in Texas’ four largest markets have seen increasing demand over townhomes and single-family homes among young professionals and retirees. This is the first time in the report’s history that condo and townhome statistics have been reported separately.

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Texas Developer Joins Federal Home Loan Bank of Dallas Board

The Federal Home Loan Bank of Dallas (FHLB Dallas) announced the election of G. Granger MacDonald to FHLB Dallas’ Board of Directors (Board). Mr. MacDonald was elected by the Board to fill an independent director seat that was vacated in April. He will serve out the remainder of the term for that seat, which expires December 31, 2017.