Archives

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.

Boston, MA - July 11, 2011 - (RealEstateRama) -- On June 20, the Department of Housing and Community Development (HUD) made funding available to help homeowners avoid foreclosure. The funding program – the Emergency Homeowners’ Loan Program (EHLP) – will provide much-needed funds for homeowners who have lost their job or experienced an involuntary decline in income. Homeowners who have received a foreclosure notice may be eligible for a deferred payment loan that will allow them to pay loan arrearages, back taxes and up to 24 months of mortgage payments. The EHLP loans will be two-year, no interest, forgivable loans. Eligible families must make less than 120 percent of the median income.

Westborough, MA - June 29, 2011 - (RealEstateRama) -- Northland Residential’s continued focus on developing relationships with the highest performing mortgage professionals and real estate agents continues to pay off for their four properties: The Woodlands at Belmont, The Residences at Black Rock, The Villages at Brookside, and The Village at Seven Springs.

BOSTON, MA - June 8, 2011 - (RealEstateRama) -- MassHousing Executive Director Thomas R. Gleason has been selected to speak at a national housing summit in New York City on June 9 sponsored by Standard & Poor’s that will cover a broad range of topics influencing the United States housing market

BOSTON, MA - March 7, 2011 - (RealEstateRama) -- A real estate investor has pled guilty in connection with participating in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area, Attorney General Martha Coakley’s Office has announced.John Sweetland, age 29, of Yorba Linda, California, pled guilty in Suffolk Superior Court this week to charges of Larceny over $250 (33 Counts), Making or Publishing False or Exaggerated Statements (11 counts) and Attempt to Make or Publish a False or Exaggerated Statement (3 counts).

WORCESTER. MA - January 21, 2011 - (RealEstateRama) -- A former mortgage broker has been sentenced to serve time in State Prison in connection with creating false or misleading bank documents that were then used to obtain fraudulent mortgage loans in the millions of dollars, Attorney General Martha Coakley’s Office announced today.“This case paints a clear picture of the abuse and fraud that was perpetrated in the banking industry by individuals who sought to take advantage of the housing market to make some fast cash,” AG Coakley said. “We are pleased that the court recognized the serious nature of these crimes, and our office will continue to prosecute those who try to game the system.

BOSTON, MA - January 19, 2011 - (RealEstateRama) -- During testimony in Brockton today, Patrick-Murray Administration Undersecretary for Consumer Affairs and Business Regulation Barbara Anthony outlined proposed regulations and legislation that would increase notification of mortgage ownership by lenders to homeowners and the Land Court.The testimony came at the first of three public hearings on regulations being drafted by the Division of Banks regarding foreclosure right-to-cure notices and reverse mortgages. The regulations are mandated as part of legislation signed by Governor Deval Patrick in August 2010 that increases consumer protection for homeowners facing foreclosure

BOSTON, MA - January 13, 2011 - (RealEstateRama) -- As the Patrick-Murray Administration's Division of Banks puts into place new rules regarding right-to-cure foreclosure notices and reverse mortgages, public informational hearings will be held to gather input on the regulations in late January.The upcoming regulations on the right-to-cure notices and reverse mortgages are part of legislation signed by Governor Deval Patrick in August 2010 as part of the Patrick-Murray Administration's response to the foreclosure crisis in Massachusetts.

Washington, DC - January 10, 2011 - (RealEstateRama) -- Congresswoman Maxine Waters (D-CA) responded to today’s ruling of the Massachusetts Supreme Court in the Ibanez case, in which the court ruled that US Bancorp and Wells Fargo did not have standing to foreclose on a borrower because they failed to follow proper legal procedure in the mortgage transfer and securitization process

BOSTON, MA - November 26, 2010 - (RealEstateRama) -- A local mortgage broker has pled guilty in connection with participating in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area, Attorney General Martha Coakley’s Office has announced.

BOSTON, MA - November 19, 2010 - (RealEstateRama) -- A real estate investor and a local mortgage broker have pled guilty for their roles in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area, Attorney General Martha Coakley’s Office has announced.

WORCESTER, MA - November 17, 2010 - (RealEstateRama) -- An Oxford man has been sentenced to State Prison after pleading guilty in Worcester Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in numerous real estate transactions involving distressed properties in the Worcester County area, Attorney General Martha Coakley’s Office announced today.

BOSTON, MA - October 18, 2010 - (RealEstateRama) -- Today, Massachusetts Attorney General Martha Coakley joined with 49 other Attorneys General and state banking and mortgage regulators from 30 states to form a bi-partisan multistate group to explore whether or not individual mortgage servicers have improperly submitted affidavits or other documents in support of foreclosures without first verifying their accuracy.

WORCESTER, MA - August 13, 2010 - (RealEstateRama) -- An Oxford man was arraigned in Worcester Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in numerous real estate transactions involving distressed properties in the Worcester County area. Allen Seymour, age 42, is charged with Forgery (4 counts), Uttering (8 counts), Inducing a Lender to Part with Property (12 counts) and Larceny by False Pretenses. Yesterday, Massachusetts State Police transported Seymour from federal prison in New Jersey to Massachusetts.Three other co-defendants have been charged in connection with this case. On December 1, 2009, Raymond A. Desautels III, age 43, of Oxford, was sentenced to serve two years in State Prison after pleading guilty to the charges of Inducing a Lender to Part with Property (5 counts).

BOSTON, MA - August 10, 2010 - (RealEstateRama) -- The Patrick-Murray Administration's Division of Banks today announced the issuance of 43 temporary cease-and-desist orders against licensed mortgage loan originators in Massachusetts for failing to meet requirements for licensure under state law. The mortgage loan originators did not meet the standards set in a 2009 law, an Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also known as the SAFE Act.A significant provision of the 2007 foreclosure prevention legislation filed and signed by Governor Deval Patrick was the extension of licensing requirements to individual mortgage loan originators employed by licensed non-bank mortgage lenders and mortgage brokers. This law was updated in 2009 by Chapter 44 to ensure compliance with the federal SAFE Act which was largely patterned after the existing Massachusetts law