Bank of America in $8.5B mortgage settlement

Bank buys Hampton Inn at foreclosure auction

By Denise Champagne
POSTED: January 31, 2013
Tags: foreclosure auction, Hampton Inn Rochester-North, mortgage

The bank holding the mortgage on the Hampton Inn Rochester-North will probably market and sell the hotel, according to the attorney who represents U.S. Bank NA, which bought the hotel Thursday at a foreclosure auction. John K. McAndrew, a partner in the Rochester law firm Woods Oviatt Gilman LLP, entered the sole bid of $8.18 [...]

CFPB, FTC join to target deceptive mortgage ads

By Kimberly Atkins
POSTED: November 29, 2012
Tags: CFPB, fraudulent advertising, FTC, investigations, mortgage

Two federal agencies have joined together to beef up investigations and enforcement actions against companies who engage in fraudulent advertising under the Mortgage Acts and Practices Advertising Rule and the Federal Trade Commission Act. Officials from the Consumer Financial Protection Bureau and the FTC have combed through more than 800 ads on television, in print [...]

Freddie Mac posts $2.9B net income for Q3

By The Associated Press
POSTED: November 6, 2012
Tags: Freddie Mac, mortgage, net income

WASHINGTON — Mortgage giant Freddie Mac posted net income of $2.9 billion for the July-September quarter, its second straight profitable quarter. The government-controlled company attributed the gain to rising home prices and fewer mortgage delinquencies. Freddie paid a dividend of $1.8 billion to the U.S. Treasury and requested no additional federal aid. The increase compared [...]

Mortgages filed May 21, 2012

By Daily Record Staff
POSTED: May 30, 2012
Tags: mortgage

A document for which an owner uses his/her real property title as security for a loan. These documents were recorded by the Monroe County Clerk’s Office and sent to The Daily Record for publication.

Freddie asks for just $146M in aid after better 4Q

By The Associated Press
POSTED: March 11, 2012
Tags: aid, Freddie Mac, mortgage

WASHINGTON — Government-controlled mortgage giant Freddie Mac has requested just $146 million in additional aid after posting a smaller loss in the fourth quarter. That’s far less than in the third quarter, when Freddie received $6 billion from the government. It received $7.6 billion for all of 2011. Freddie Mac said Thursday that it lost [...]

Texas woman admits to Rochester fraud

By Daily Record Staff
POSTED: September 28, 2011
Tags: bank fraud, mortgage, Texas woman

Mary Ann Fulbright, 60, of Dallas, has pleaded guilty before U.S. District Judge David G. Larimer, to bank fraud. Assistant U.S. Attorney Marisa J. Miller said Fulbright fraudulently obtained a home equity conversion loan, a type of reverse mortgage …

FTC issues rule on deceptive mortgage advertising

By Todd Etshman
POSTED: August 25, 2011
Tags: advertising, Federal Trade Commission, FTC, interest rates, mortgage, rates

Advertisements with interest rates that seem too good to be true or messages indicating that you’ve been pre-approved for a fantastic mortgage may not be so common in the future.

Lawyers exempt from HUD mortgage originator rule

By Dolan Media Newswires
POSTED: August 24, 2011
Tags: Department of Housing and Urban Development, HUD, mortgage, SAFE Act

The Department of Housing and Urban Development issued new final rules setting standards for compliance with the Secure and Fair Enforcement for Mortgage Licensing Act, including a rule that exempts lawyers from the definition of “mortgage originator” when they are providing legal services to their clients.

Landis v. Giacinto

By Daily Record Staff
POSTED: July 26, 2011
Tags: Appellate Division, Escrow Funds, Fourth Department, mortgage

Appellate Division, Fourth Department Mortgage Escrow Funds Landis v. Giacinto CA 10-02401 Appealed from Supreme Court, Steuben County Background: The plaintiffs commended an action against the defendant to recover the down payment held in escrow that was paid by the defendant when he entered into a contract to purchase real estate from the plaintiffs. The [...]