Ocwen Financial Corporation President Ronald M. Faris, has testified before Congress, voicing the mortgage servicer's support of the Obama Administration's Home Affordable Modification Program (HAMP) and recommended enhancements that Ocwen believes would make the program more effective at preventing foreclosures and helping distressed homeowners.Read more

The Federal Trade Commission (FTC) moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge upfront for these services. Instead, companies could only collect payment after providing services.Read more

Robyn and Steve Love, co-executive directors of Investors Resource Center of America- Los Angeles (IRCA), have published Home Remedy to help homeowners learn they have options when selling their house. Selling the traditional way with a real estate agent may not be the best way for them.Read more

CitiMortgage and CitiFinancial North America, both units of Citigroup, have announced a national foreclosure suspension program for Citi-owned mortgages to allow distressed homeowners to remain in their homes through the holiday season. During the 30-day suspension, effective Dec. 18, 2009 through January 17, 2010, borrowers with first mortgage loans owned by CitiMortgage and CitiFinancial North America and who meet certain other criteria will not be subject to foreclosure sales or foreclosure notifications.Read more

U.S. District Judge Roger W. Titus has sentenced Jennifer McCall, age 48, the chief executive officer of the Metropolitan Money Store, of Fort Washington, Md., to 135 months in prison, followed by five years of supervised release, for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, announced United States Attorney for the District of Maryland Rod J. Rosenstein.Read more

A 15-count indictment has been filed against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the FBI Janice K. Fedarcyk, and Pennsylvania Secretary of Banking Steven Kaplan. Charged are Edward G. McCusker and John Alford Bariana, owners of Axxium Mortgage Inc., McCusker’s wife, Jacqueline, and Jeffrey A. Bennett and Stephen G. Doherty, owners of the Doylestown law firm Bennett & Doherty PC.Read more

U.S. District Judge Roger W. Titus has sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Md., to 151 months in prison followed by five years of supervised release for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, announced United States Attorney for the District of Maryland Rod J. Rosenstein.Read more

United States Attorney A. Brian Albritton has announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is holding events throughout the district to highlight the announcement. There are currently mortgage fraud-related charges pending against approximately 500 defendants in federal mortgage fraud cases around the nation.Read more

Foreclosure.com Founder, President and CEO Brad Geisen, has announced that he has built the first-ever short sales offer management system that handles marketing, processing, negotiating and closing services all in one central location. QuickSale is an easy-to-use platform that simplifies an often long and complicated process, bringing together all parties--distressed homeowners, lenders, investors, buyers and agents--who all share one common interest: Moving real estate inventory as fast as possible under the best terms.Read more

HASProgram.com announced the launch of their new Web site which will assist distressed homeowners from losing their homes during the economic downturn. The site will feature “HASP PAK” which will empower the homeowner to quickly and efficiently create all the necessary documents to file for protection under the Homeowners Affordability and Stability Plan (HASP) with their bank.Read more