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 [...]
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 [...]
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 [...]
By Daily Record Staff
POSTED: May 30, 2012
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.
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 [...]
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 …
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.
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.
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 [...]
New York state has the nation’s highest mortgage closing costs for the second consecutive year, according to a study by Bankrate.com. The organization found that New York led the nation with an average fee of $6,183, followed by Texas …
LOS ANGELES — It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month. She soon learned that her troubles had just begun.
NEW YORK CITY — Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.