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Division of Banks Announces Action against Taylor, Bean & Whitaker

BOSTON, MA - August 12, 2009 - (RealEstateRama) -- The Division of Banks issued a cease-and-desist order against Taylor, Bean & Whitaker Mortgage Corporation, one of the largest wholesale lenders in the country.On Tuesday, Aug. 4, the Federal Housing Administration announced that it had suspended Taylor Bean from originating any FHA-insured mortgages after allegations of financial misrepresentation and the failure to disclose a multi-state settlement agreement which included Massachusetts.

Patrick-Murray Administration Announces Record Year for MassHousing

Unprecedented demand for affordable home mortgage loans pushes overall lending to more than $753 million. BOSTON, MA - August 7, 2009 - (RealEstateRama) -- Governor Deval Patrick announced today that MassHousing had its best lending year in state history in fiscal year 2009, providing more than three-quarters of a billion dollars for affordable housing.The landmark year was due to a surge in lending to first-time homebuyers. They have flocked to MassHousing’s 30-year fixed rate-mortgages with low downpayment requirements – a feature that has virtually disappeared from the private lending market in the wake of the mortgage lending crisis

Patrick Administration Announces Multi-State Agreement with Taylor, Bean & Whitaker Mortgage Corporation

Model Agreement Will Bring Relief to Homeowners. BOSTON, MA - June 22, 2009 - (RealEstateRama) — The Patrick Administration’s Division of Banks today announced a major agreement with Taylor, Bean & Whitaker Mortgage Corporation (TBW) regarding its mortgage lending practices for so-called “nontraditional” loans made in 2006. This agreement will result in a detailed review of TBW’s nontraditional loan exceptions, the adoption of the federal loan modification program to assist struggling homeowners, and the payment of $9 million to assist the states in their oversight of mortgage origination practices.

MassHousing Honors Bank of Canton for Commitment to Affordable Housing

Was MassHousing’s 2008 top-producing lender and top minority and low-income lender. BOSTON, MA - June 11, 2009 – (RealEstateRama) — MassHousing recently honored Bank of Canton for being the agency’s top-producing lender and top-producing lender to minorities and low-income families in 2008.

Division of Banks Announces Actions Against Mortgage Lenders and Brokers

BOSTON, MA - June 4, 2009 - (RealEstateRama) — The Division of Banks (Division) today announced the issuance of 87 cease-and-desist orders against licensed mortgage lenders and mortgage brokers in Massachusetts. The Division closed these licensees today after they failed to provide required financial information, including the failure to post a bond.In September 2007, the Division amended its regulations regarding the licensing of mortgage brokers and lenders. Earlier in 2007, the Mortgage Summit Working Groups (convened by the Division to address the foreclosure crisis comprised of representatives of government, industry, and non-profit organizations) had recommended raising the barriers to entry, including the financial requirements for mortgage lenders and mortgage brokers.

MassHousing Honors Bank of America for Lead Paint Removal Lending

BOA was 2008 top producing lender of MassHousing’s Get the Lead Out Program BOSTON, MA June 3, 2009 - (RealEstateRama) — MassHousing recently honored Bank...

MassHousing Honors Seven Lenders for Their Commitment to Affordable Housing

Bank of Canton recognized as top producing lender and top minority lender. BOSTON, MA - May 21, 2009 - (RealEstateRama) — MassHousing recently honored seven of the agency’s top-producing lending partners for 2008 during its annual Home Ownership Awards Ceremony.

East Cambridge Savings Bank is a MassHousing Approved Lender

BOSTON, MA - April 29, 2009 - (RealEstateRama) — MassHousing announced today that East Cambridge Savings Bank is now an approved lender of MassHousing’s MassAdvantage™ family of affordable home loan products to low- and moderate-income homebuyers.

Housing Market Hits a Triple for First-Time Homebuyers

Affordable prices, low mortgage rates and $8000 tax credit create unique opportunity

River Works Credit Union is a MassHousing Approved Lender

BOSTON, MA - December 29, 2008 - (RealEstateRama) — MassHousing announced today that River Works Credit Union in Lynn is now an approved lender...

Attorney General Martha Coakley Obtains Preliminary Injunction Against Option One and H&R Block, Accused...

BOSTON, MA - November 13, 2008 - (RealEstateRama) — Attorney General Martha Coakley’s Office has obtained a preliminary injunction against Option One Mortgage Corp....

Mortgage Subsidy Program

October 29, 2008 - (RealEstateRama) — The Town of Amherst is currently accepting applications from moderate-income households, whose incomes are below 80% of the...

Attorney General Martha Coakley Reports to Congress on Mortgage Industry’s Lack of Action on...

AG submits testimony to Congressman Frank’s Committee; testimony included below BOSTON, MA - September 18, 2008 - (RealEstateRama) — Massachusetts Attorney General Martha Coakley...

MassHousing Makes Loan Commitments of up to $15.1 Million for Final Phases of the...

Redevelopment of the Boston Housing Authority’s “most troubled’’ housing development will result in 266 new affordable apartments in townhouses and mid-rise buildings BOSTON – MassHousing announced...

Subprime Mortgage Crisis Causing African-Americans to Experience Greatest Loss of Wealth in Modern US...

Racial Bias of Subprime Mortgage Lenders Accounts for 40% Difference in Losses Between Whites and People of Color Boston—A new report says the subprime mortgage...

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Lynn CPA Pleads Guilty to Mortgage and Tax Charges

A Lynn accountant pleaded guilty today in federal court in Boston to assisting a multi-year mortgage fraud scheme by creating fraudulent tax returns and submitting fraudulent letters to lenders.