The Pulse

NRMLA presents free Webinar to curb deceptive advertising practices
As part of its mission to help seniors borrow with confidence, the National Reverse Mortgage Lenders Association (NRMLA) presented a free Webinar for members on Jan. 12 in which a panel of experts presented specific examples of... Read more
Former Omni National Bank exec pleads guilty to overvaluing bank assets
Jeffrey L. Levin of Atlanta, pleaded guilty in federal district court to causing materially false entries that overvalued bank assets to be made in the books, reports and statements of Omni National Bank. Acting United States Attorney... Read more
Seven family members nabbed in Ohio fraud ring
A federal grand jury here has indicted six members of a family and one of their employees charging them with operating a mortgage fraud conspiracy between 2004 and 2009. Carter M. Stewart, United States Attorney for the Southern District... Read more
HUD enacts policy to speed sale of foreclosed properties to new owners
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan has announced a temporary policy that will... Read more
Obama Administration reports more than 100,000 permanent mods approved to date
The U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) have released an update on the Administration's aggressive nationwide campaign to help borrowers in the trial phase of their modified... Read more
Arizona AG charges loan mod company with deceptive practices
Arizona Attorney General Terry Goddard has filed a lawsuit against a Phoenix-based mortgage loan modification company, Asset Creation LLC, and its owner, Marvin Williamson, for engaging in allegedly deceptive practices. This lawsuit is the... Read more
RealtyTrac reports foreclosure filings set new record in 2009
RealtyTrac, an online marketplace for foreclosure properties, has released its Year-End 2009 Foreclosure Market Report, which shows a total of 3,957,643 foreclosure filings—default notices, scheduled foreclosure auctions and bank... Read more
Freddie Mac PMMS: Fixed-rates down slightly
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending Jan. 14, 2010, down from last week when it... Read more
California man sentenced in multi-million dollar mortgage scheme
The Office of the United States Attorney for the District of Vermont stated that Benjamin Osmanson of California, the former operator of the Highgate Manor, in Highgate, Vt., was sentenced to nine years in prison, to be followed by five... Read more
HUD, Treasury and FHFA announce completion of initiatives to assist state and local HFAs
The U.S. Department of the Treasury, together with the U.S. Department of Housing & Urban Development (HUD), and the Federal Housing Finance Agency (FHFA) have announced the completion of all transactions under the recently-introduced... Read more