Scott Koondel of Mortgage News Network stops by the Residential Home Funding booth for a chat with Anthony Pepe
Brad Smith, Managing Director of Renovation Sales with Home Point Financial, details the ins and outs of renovation lending during his Breakout Session
Reps from REMN Wholesale on the Exhibit Hall floor of Mohegan Sun
The crew from United Wholesale Mortgage (UWM) were on hand at the New England Mortgage Expo to detail their company's product offerings
New Hampshire has extended its three-year-old HomeHelpNH foreclosure counseling endeavor for another year.
The program, which was introduced in January 2013 and was set to expire this year, has assisted more than 2,500 households, with roughly 94 percent of program participants being able to avoid foreclosure with a counselor’s help. New Hampshire Gov. Maggie Hassan noted that while the state funding on the program is coming to a close, contributions from non-public sources will enable HomeHelpNH to continue.
“Thanks in part to contributions from community partners, this vital program will be able to continue providing much-needed foreclosure counseling services across the state, helping middle class families achieve the best possible outcomes given their housing and financial situations,” she said. “While our state’s economy continues to improve, we must maintain our commitment to providing those in need with the tools and resources to navigate complicated housing circumstances, which will help strengthen the health of our housing market, our communities and our economy.”
Mortgage Network Inc. has announced that it has opened a branch office in Salem, N.H. The office will be managed by Martha Harvey, previously branch manager of Mortgage Network's Westford, Mass. office. A veteran mortgage professional with more than 25 years of experience, Harvey joined Mortgage Network in 2007 after serving as a loan officer at Countrywide and North American Mortgage. Joining Harvey at the Salem office is loan officer David Barbato, who previously served as a loan officer in the Westford branch, in addition to an operations staff of four people.
"Our Salem office is perfectly located to reach borrowers in southern New Hampshire and north of Boston who are in need of greater home financing options," said Brian Koss, Mortgage Network executive vice president. "We chose Martha to lead this office due to her proven leadership skills and impeccable customer service record. We look forward to serving the Salem community for many years to come."
Harvey said real estate prices in Salem and north of Boston are within reach of many first-time buyers, but that new federal regulations have made the lending process more complicated.
"While the market is improving, most people have trouble figuring out what they need to get approved," Harvey said. "Thankfully, Mortgage Network has the systems and support I need to guide borrowers through the process as painlessly as possible. Whether they are buying their first home, moving into a bigger home, or refinancing an existing mortgage, we are ready to help local residents achieve their home financing goals."
The Tri-State Mortgage Conference 2016, presented by the Mortgage Bankers & Brokers Association of New Hampshire, Maine Association of Mortgage Professionals and Vermont Mortgage Bankers Association, in partnership with the New Hampshire Bankers Association, Maine Bankers Association and Vermont Bankers Association, will be held Thursday-Friday, Feb. 4-5, 2016 at the Marriott Residence Inn/Portsmouth Harbor Events Center in Portsmouth, N.H.
This year's event was planned by your peers and promises to be an event you will not want to miss! The theme is Millennial! How the industry is changing, the new mortgage borrower, how to talk to them, recruitment, training, marketing techniques and the next generation of young mortgage professionals. As well as; scheduling an effective week, Post TRID, birth order dynamics, Washington update, technology business intelligence, and of course Ruth Dillingham!
U.S. presidential candidates of both parties are scheduled to join New Hampshire officials and national experts for a housing summit on Friday, October 16, at the New Hampshire Institute of Politics at Saint Anselm College in Manchester, N.H.
Republican presidential candidates Chris Christie, Lindsey Graham, Mike Huckabee and George Pataki plus Democratic hopeful Martin O’Malley are scheduled to participate in the summit. Also scheduled to attend is U.S. Senator Kelly Ayotte, former Senator Scott Brown, former HUD Secretary Henry Cisneros and Manchester Mayor Ted Gatsas.
The event is sponsored by the J. Ronald Terwilliger Foundation for Housing America’s Families and the Bipartisan Policy Center, the summit will run from 8:00 a.m. to 5:00 p.m.
The New England Mortgage Bankers Association will host its 22nd Annual Conference, Wednesday-Friday, Sept. 30-Oct. 2 at the Rhode Island Convention Center in Providence, RI. For more information, call the Massacusetts Mortgage Bankers Association state office at (617) 570-9114 or click here for the for NEMBC 22nd Preliminary Program Guide.
Robert Steuk, formerly of Exeter, N.H. was sentenced to 41 months imprisonment on one count of wire fraud to which he pleaded guilty in the United States District Court for the District of New Hampshire. Steuk will be placed on supervised release for a period of three years and he was also ordered to pay restitution of $930,946.90. The case was investigated by the Federal Bureau of Investigation (FBI).
Steuk operated Warranty Title Company LLC, a title services company that primarily focused on closings relating to the refinancing of real estate. Warranty Title was a subsidiary and the largest agent of Chicago Title Inc. On Aug. 9, 2007, Steuk contacted Chicago Title and requested additional funds for the business in order to maintain Warranty Title's solvency. Steuk admitted that he had been illegally transferring funds from the escrow accounts to the operating account. An audit of Warranty Title's escrow account determined that from April 1, 2005-Aug. 9, 2007, Steuk misappropriated funds from at least 36 victims, resulting in the closure of Warranty Title. Steuk repaid a portion of the misappropriated funds, but remains responsible for the repayment of $930,946.90.
"Bringing to justice those who commit mortgage fraud in any of its various forms is a priority of the New Hampshire U.S. Attorney's office," said U.S. Attorney John P. Kacavas. "Prosecutions like this will help restore confidence in our real estate and securities markets, deter future acts of fraud, and provide restitution to victims.”
Assistant U.S. Attorney Debra M. Walsh and Assistant U.S. Attorney Don Feith prosecuted the case, part of the President's Financial Fraud Enforcement Task Force (FFETF) and the New Hampshire U.S. Attorney's Mortgage Fraud Task Force, both of which are aimed at combating financial crimes.
For more information, visit www.usdoj.gov.