BOSTON, MA - May 22, 2013 - (RealEstateRama) -- Massachusetts homeowners have received more than $637 million in total consumer relief during the first full year since the National Mortgage Settlement, according to numbers provided by the five major banks. The self-reported data includes raw numbers about completed relief and ongoing trial loan modifications that have not yet been audited by the National Monitor for compliance with the court ordered settlement.
BOSTON - May 15, 2013 - (RealEstateRama) -- A Dorchester man was sentenced yesterday for operating a mortgage fraud scheme to sell his own home and to buy other residential properties.
BOSTON - March 15, 2013 - (RealEstateRama) -- A Randolph woman was sentenced late yesterday for using a stolen identity to sign fraudulent mortgage loan documents.
One Year Later: National Mortgage Settlement Brings Millions of Dollars in Relief to Massachusetts...
BOSTON - February 11, 2013 - (RealEstateRama) -- Thousands of Massachusetts homeowners on the brink of foreclosure have received assistance in the year since Attorney General Martha Coakley announced a $25 billion national settlement with the five major lenders over their servicing and foreclosure practices. This success has been driven in large part by the AG’s first-in-the nation HomeCorps program which her office created and launched last April and has already directly assisted more than 4,600 borrowers in Massachusetts, more than a thousand of whom have now received permanent loan modifications.
AG Coakley Reminds Qualified Borrowers of Deadline for Foreclosure Settlement Claims Under National Settlement
BOSTON, MA - January 14, 2012 - (RealEstateRama) -- Attorney General Martha Coakley today reminded qualified borrowers who lost their homes to foreclosure that Friday, Jan. 18 is the deadline for filing claims for a one-time payment under the $25 billion national mortgage foreclosure settlement.
BOSTON - September 21, 2012 - (RealEstateRama) -- MassHousing's Peter Milewski was inducted today into the New England Mortgage Bankers Conference Hall of Fame for his more than 40 years of excellence in mortgage banking.
Washington, DC - January 18, 2012 - (RealEstateRama) -- Today, Congressman John Tierney and Oversight and Government Reform Committee Ranking Member Elijah Cummings called on Committee Chairman Darrell Issa to subpoena documents that Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco committed to share with the Committee in November. Congressman Tierney originally requested the documents during a November 16, 2011 Committee hearing in which DeMarco claimed his agency's refusal to push banks to keep families in their homes through loan modifications was based on its own thorough analytics. Tierney called into question the validity of such an analysis which would be counter to recommendations by others in the field. FHFA has failed to produce a single document in response to this request over the last two months.
Washington, DC - October 27, 2011 - (RealEstateRama) -- Today, Congressman John Tierney urged Acting Director Edward DeMarco of the Federal Housing Finance Agency (FHFA) to continue to take critical steps to prevent foreclosures and to push private lenders to provide relief. Earlier this week, the Administration announced that the FHFA would implement a series of policy changes that would allow more homeowners to access the Home Affordable Refinance Program ("HARP") to refinance their home mortgage.
Washington, DC - October 26, 2011 - (RealEstateRama) -- Congressman John Tierney released the following statement in response to the Federal Housing Finance Agency (FHFA) decision to enact a series of changes to the Home Affordable Refinance Program (HARP) that will help more eligible borrowers refinance their home mortgage.
Tierney Continues to Press Administration to Ensure that Homeowners Receive a Fair-Shake From Mortgage...
Washington, DC - October 10, 2011 - (RealEstateRama) -- Today, Congressman John Tierney (MA-06) will join a group of lawmakers in a meeting with Acting Director Edward DeMarco of the Federal Housing Finance Agency (FHFA) to discuss President Obama's proposal to allow more American families to refinance their mortgages at historically low interest rates. The meeting is the result of increased pressure from Tierney and a group of his Democratic colleagues on the FHFA to discuss quick implementation of the proposal President Obama mentioned during his recent address to Congress.
Federal Reserve Bank of Boston Releases “State Foreclosure Prevention Efforts in New England: Mediation...
BOSTON, MA - September 29, 2011 - (RealEstateRama) -- Foreclosure initiations spiked in all the New England states during the recent economic downtown, ranging from a peak of less than 3.0% of outstanding mortgages in Vermont in 2010 to a peak of 5.5% of outstanding mortgages in Rhode Island in 2009. Across the entire New England region in 2010, more than 7% of all mortgage holders– nearly 133,000 homeowners – were seriously delinquent in making payments. In response, state and local policymakers have created their own foreclosure prevention programs to supplement those available nationwide.
Boston, MA - September 8, 2011 - (RealEstateRama) -- For the second year in a row, Cape Cod Five Cents Savings Bank made more affordable MassHousing home mortgage loans than any other Barnstable County lender.
BOSTON, MA - August 29, 2011 - (RealEstateRama) -- MassHousing has honored NE Moves Mortgage for being the Agency's top retail producer of first mortgages in 2010, an award the Waltham-based lender has won for the third consecutive year. NE Moves originated 150 MassHousing first mortgages for a total of $34.5 million in financing during calendar year 2010. In addition to being MassHousing's top retail producer in 2010, 2009 and 2008, NE Moves was MassHousing's top overall producer of first mortgages in 2006 and 2007.
BOSTON, MA - August 29, 2011 - (RealEstateRama) -- Continuing the Patrick-Murray Administration’s ongoing efforts to fight deceptive advertising practices, the Division of Banks today announced that cease activity directives had been issued to five entities for marketing reverse mortgages to Massachusetts consumers.The five companies, Eldervantage, LLC; Lender 411, LLC; Senior Reverse Mortgage Online; Reverse Mortgage Helpdesk; and Reversemortgesite, were not approved to sell reverse mortgages in Massachusetts. The actions follow similar enforcement actions the Division of Banks has taken over the past three years in the area of unfair and deceptive advertising practices.
BOSTON, MA - August 18, 2011 - (RealEstateRama) -- MassHousing has honored seven of its 2010 top-producing home mortgage lending partners for their commitment to affordable homeownership.