A Virginia man and woman who recruited participants into a multi-year, multi-property mortgage fraud scheme in Roxbury and Dorchester were sentenced this week in U.S. District Court in Boston.
MassHousing developed the loan program after finding that VA loans have some restrictions that make it more challenging to use in Massachusetts than in other states. There are relatively few lenders in Massachusetts offering the VA loan.
A mortgage broker from Middleton was convicted today of attempted bank fraud in federal court. Michael P. O’Donnell, 53, was convicted of one count of bank fraud after a three-day bench trial before the Honorable Douglas P. Woodlock, United States District Judge. Judge Woodlock scheduled sentencing for Oct. 20, 2015.
In an effort to help low-income residents find higher-paying jobs, the U.S. Department of Housing and Urban Development (HUD) announced a $2 million grant for the next four years to the Boston Housing Authority. BHA competed with 57 other applications across the nation to be one of nine agencies awarded a Jobs-Plus grant. The HUD funding comes with more than $1 million in matching funds through the City of Boston aimed at increasing education levels, job search and placement and financial literacy assistance for public housing residents.
MERSCORP Holdings, Inc. today announced that the Massachusetts Court of Appeals ruled that MERS is a valid mortgagee that can hold legal title to the mortgage with the right to assign its interest in the mortgage.
MERSCORP Holdings, Inc. today announced that the Court of Appeals of Massachusetts ruled in Mortgage Electronic Registration Systems, Inc.’s (MERS) favor, finding that an assignment by MERS was vali
SunTrust Mortgage to Pay $550 Million in Federal-State Deal Over Unlawful Foreclosures, Loan Servicing
BOSTON - June 18, 2014 - (RealEstateRama) -- A $550 million nationwide federal-state settlement with mortgage lender and servicer SunTrust Mortgage Inc. over mortgage origination, servicing, and foreclosure abuses will provide direct payments to eligible Massachusetts borrowers for past foreclosure abuses, along with loan modifications and other relief for borrowers in need of assistance, Attorney General Martha Coakley announced today.
BOSTON - February 18, 2014 - (RealEstateRama) -- MassHousing announced today that Village Mortgage is now an approved lender of MassHousing’s family of affordable, fixed-rate, home loan products for low- and moderate-income homebuyers.
BOSTON - December 19, 2013 - (RealEstateRama) -- The nation’s fourth largest mortgage servicer has agreed to provide Massachusetts homeowners with an estimated $80 million in principal reduction and cash payments to homeowners as part of a national settlement to resolve claims of loan servicing misconduct and unlawful foreclosures, Attorney General Martha Coakley announced today.
BOSTON WASHINGTON, D.C. - November 25, 2013 - (RealEstateRama) -- A Pennsylvania man, formerly an attorney practicing in Boston, was convicted of mortgage fraud. Charles R. Sammon, 37, of West Pittston, Penn., pleaded guilty before U.S. District Judge Richard G. Stearns to 13 counts of wire fraud, mail fraud and money laundering, all in connection with the mortgage fraud scheme that occurred in 2006 and 2007
BOSTON - November 5, 2013 - (RealEstateRama) -- MassHousing announced today that Needham Bank is now an approved lender of MassHousing's family of affordable, fixed-rate, home loan products for low- and moderate-income homebuyers.
BOSTON - September 30, 2013 - (RealEstateRama) -- MassHousing is partnering with the Buy Cities program and six MassHousing-approved lenders to promote affordable homeownership opportunities in New Bedford and Fall River.
BOSTON, MA - September 10, 2013 - (RealEstateRama) -- Barclays Bank PLC (Barclays) will pay $36.1 million to settle allegations that it financed, purchased, and securitized residential loans that were presumptively unfair under Massachusetts law, Attorney General Martha Coakley announced today.
WASHINGTON, D.C. - July 24, 2013 - (RealEstateRama) -- Today, Congressman Stephen F. Lynch (MA-08) issued the following statement after voting against H.R. 2767, the so-called Protecting American Taxpayers and Homeowners (PATH) Act, a Republican bill to privatize the mortgage finance market
DORCHESTER - June 11, 2013 - (RealEstateRama) -- Governor Deval Patrick today kicked-off Commonwealth Housing Week by announcing a new compact that creates a goal of providing 10,000 mortgage loans to first-time homebuyers over the next five years. The Home Ownership Compact includes a commitment among lenders to originate a specific number of mortgage loans to first-time home buyers with household incomes below the area median income through the MassHousing and the Massachusetts Housing Partnership programs.