More than 4 million American homeowners are past due on their mortgage, a figure that's been fueled by the coronavirus pandemic, industry data showed Friday.

Subprime mortgages have been linked to a meltdown in housing and questionable Wall Street practices, and they may have been the original domino that set off America's current economic crisis.

The Delaware State Housing Authority (DSHA) announced last month that it will be taking the lead in a new outreach project designed to expand the relief options available to homeowners who are struggling with their mortgages. The Making Home Affordable Outreach and Intake Project aims to help homeowners avoid mortgage default by seeking resolutions through the Making Home Affordable (MHA) Program, the cornerstone of President Obama’s plan to offer lasting relief to homeowners in financial distress.

IN BELGAVI, KARNATAKA STATE, BOUGHT AGRICULTURAL LAND OF 2.75 ACRES AFTER GETTING DC APPROVAL IN 2018 WITH A LOCK IN TRANSFER 5 YEARS. NOW CAN I TAKE LOAN FROM AN INDIVIDUAL FOR BUYING A TRACTOR AND CULTIVATION OF LAND BY MORTGAGING THIS AGRICULTURAL LAND

Reserve Bank revises Guidelines on Mortgage Guarantee Companies (MGCs)

Clive Briault, FSA Retail Managing Director, gave advice to the Council of Mortgage Lenders Annual Conference urging firms to assess their funding and liquidity positions in light of expected worsening of liquidity and credit risks. Mr Briault also...

Partly in an effort to counter the tide of mortgage fraud cases, the Land Registry has amended the Land Registration Rules 2003 with effect from 10 November 2008. The Land Registration (Amendment) Rules 2008 substantially amend many of the forms req...

The Land Registry is changing its practice on the discharge of mortgages in cases where form DS1 is not available when the application is made to the Land Registry. On 3 August 2009, the Land Registry will implement an important change in practice ...

The mortgage pre-action protocol (MPAP) has been in force for a little over six months, long enough for the courts' approach to settle down and for patterns to emerge. This article looks at our experiences. The good news is that MPAP compliance has...

LSG Litigation regularly deal with cases involving mortgage fraud. The key to combating mortgage fraud is early detection, comprehensive and vigorous investigation and immediate recovery action. A Case Study In October 2008, we were instructed to...

Currently CPR 55.10 provides that where a mortgagee seeks possession of land which consists of or includes residential property the claimant must send a notice to the property addressed to 'the occupiers' within 5 days of receiving notification of t...

The volume of home mortgage loans made out by commercial banks is falling at a rapid rate after the government's measure to keep the housing marketing from overheating on August 2. According to figures made public by the nation's top-five banks including Kookmin, Shinhan, Woori, KEB Hana, and Nonghyup on August 21, the balance of home mortgage loans as of August 18 was 368,370.2 billion won, up by 1,834.3 billion won from the end of July (366,535.9 billion won). In monthly rate, this is up ...

A reverse mortgage is a special type of loan against a home that allows the borrower to convert a portion of the equity in the property into cash. The equity built up over many years of home loan payments can be paid directly to the borrower. However, unlike a traditional home equity loan no repayment is required until the borrower(s) cease to use the home as their principal residence. With a traditional second mortgage, or a home equity line of credit, one must show sufficient income versus debt ratio to qualify for such a loan, and needs to make monthly payments towards the mortgage. Reverse mortgage differs in that it […]

If you’re excited and in good shape to buy a home, self-made millionaire Barbara Corcoran says these are the five steps for you to take.

A federal grand jury has indicted four defendants, and an information has been filed against a fifth defendant, for their participation in a massive mortgage fraud scheme that allegedly promised to pay off homeowners’ mortgages on their “Dream Homes,” but left them to fend for themselves. The indictment was returned on April 22, 2009, and unsealed today.

The Department filed suit against California mortgage lender Capmark Finance Inc., charging that Capmark violated the False Claims Act by making false statements on applications for federal mortgage insurance covering residential nursing homes.

Beazer Homes USA Inc. has agreed to pay the United States $5 million dollars, plus contingent payments of up to $48 million dollars to be shared with victimized private homeowners, to resolve allegations that it, and Beazer Mortgage Corp., were involved in fraudulent mortgage origination activities in connection with federally insured mortgages.

Robert Corp, a mortgage underwriter in Syracuse, N.Y., has agreed to pay the United States close to $679,000 to settle allegations that he defrauded the U.S. Department of Housing and Urban Development (HUD).

Dennis G. Sartain of Hilliard, Ohio; and Bonnie Helt, of Columbus, Ohio, pleaded guilty today to conspiring to commit mortgage fraud, money laundering and obstruction of justice.

Representatives of the Financial Fraud Enforcement Task Force met in Miami today for the first of a series of Mortgage Fraud Summits.

The Attorney General announced that new investments included in the FY 2010 budget will soon be distributed to combat mortgage fraud.

"Mortgage fraud schemes must be stopped in their tracks. And those willing to exploit our national financial crisis for personal gain will be brought to justice," said Attorney General Holder.

The task force, established by President Barack Obama in November 2009 to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes, is composed of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement.

Attorney General Eric Holder, FBI Director Robert Mueller, Housing and Urban Development Inspector General (HUD-OIG) Kenneth M. Donohue, and other members of the Financial Fraud Enforcement Task Force today announced the results of a nationwide takedown, Operation Stolen Dreams, which targeted mortgage fraudsters throughout the country and is the largest collective enforcement effort ever brought to bear in confronting mortgage fraud.

Todd M. Gongwer, of Columbus, Ohio, was sentenced today to two years in prison for conspiring with convicted Columbus area home builder Thomas Parenteau to commit a mortgage fraud scheme in which the pair defrauded banks into lending more than $10 million to Gongwer, his nominees and unqualified borrowers.

PrimeLending, a national mortgage lender with 168 offices in 32 states at the end of 2009, has agreed to pay $2 million to resolve allegations that it engaged in a pattern or practice of discrimination against African-American borrowers between 2006 and 2009.

Teresa Kelly, a former operations supervisor in Colonial Bank’s Mortgage Warehouse Lending Division, pleaded guilty today to conspiring to commit bank, wire and securities fraud for her role in a fraud scheme that contributed to the failures of Colonial Bank and Taylor, Bean & Whitaker.

The United States has filed a civil mortgage fraud lawsuit against Deutsche Bank AG and its wholly owned subsidiary, MortgageIT Inc.

The Justice Department today announced settlements with two lenders under the Servicemembers Civil Relief Act (SCRA) to resolve allegations that the lenders wrongfully foreclosed upon active duty servicemembers without first obtaining court orders, in violation of the SCRA.

"The Civil Rights Division enforces several laws designed to protect the rights of members of the military – so that their brave and selfless service doesn’t put them at risk of losing their jobs at home; so that they don’t have to forfeit their right to vote; so that they can be assured they and their families in the consumer context will not be penalized for their courageous decision to serve our nation."

The Justice Department announced today that it has sued the Mortgage Guaranty Insurance Corporation (MGIC), the nation’s largest mortgage insurance company, and two of its underwriters, Elgina Cunningham and Kelly Kane, for violating the Fair Housing Act by discriminating against women on paid maternity leave.

The Justice Department announced today the unsealing of a criminal information earlier today, charging four defendants with conspiracy to commit wire fraud involving a nation-wide reverse mortgage scam that defrauded elderly borrowers, financial institutions and the Department of Housing and Urban Development (HUD).

Alexander Otis Matthews, a Virginia real estate businessman pleaded guilty today to fraud charges in connection with mortgage and investment schemes to obtain more than $12 million in fraudulent loans.

The United States has filed a civil lawsuit against Robert S. Luce, founder and president of MDR Mortgage Corp., a mortgage lending business located in Palatine, Ill.

Louis Gendason of Delray Beach, Fla.; Kimberly Mackey of Pittsburgh; and John Incandela, of Palm Beach, Fla., pleaded guilty today to one count of conspiracy to commit wire fraud for their participation in a $2.5 million Home Equity Conversion Mortgage, or reverse mortgage, fraud scheme.

Alexander Otis Matthews, a Virginia real estate businessman, was sentenced today to 10 years in prison in connection with mortgage and investment schemes to obtain more than $12 million in fraudulent loans.

The Justice Department announced today that C&F Mortgage Corporation of Midlothian, Va., will revise its pricing policies, conduct employee training and pay $140,000 as part of a settlement to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of race and national origin.

Two individuals – a loan officer and a title agent – have been sentenced by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for their participation in a nationwide $2.5 million reverse mortgage fraud scheme.

John Incandela, 25, of Palm Beach, Fla., was sentenced to 41 months in prison, three years of supervised release and ordered to pay over $1.9 million in restitution.

Hugo Patrick Coutelin, 62, a resident of Santa Fe, N.M., pleaded guilty before U.S. District Judge Kent J. Dawson in the District of Nevada to conspiring to commit wire fraud, mail fraud and bank fraud.

A loan officer was sentenced Friday by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for his participation in a nationwide $2.5 million reverse mortgage fraud scheme, the Justice Department announced.

At the direction of the President, this Working Group brings together the Department of Justice (DOJ), several state attorneys general and other federal entities to investigate those responsible for misconduct contributing to the financial crisis through the pooling and sale of residential mortgage-backed securities.

"I am confident that this new effort will improve our ability to ensure justice for victims; help restore faith in our financial markets and institutions; and allow us to answer the call that President Obama issued earlier this week, in his State of the Union address," said Attorney General Holder.

After a seven-day trial, a federal jury in Las Vegas found Jeannie Sutherland and Kelly Nunes guilty of one count of bank fraud and one count of conspiracy to commit wire and bank fraud.

The federal government and 49 state attorneys general today have reached a landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.

"This agreement reflects our commitment – at both the federal and state levels – to ensure justice, and to recover losses, for victims of reckless and abusive mortgage practices," said Attorney General Holder.

Capmark Finance LLC in Horsham, Pa., has agreed to pay the United States $3.9 million, to settle a False Claims Act lawsuit, the Justice Department announced today.

"The federal-state agreement contains provisions to ensure that our servicemembers receive the full protection of current law, as well as substantial new benefits," said Assistant Attorney General Perez.