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On July 17, a 26-count indictment was unsealed charging Eliseo Jara Jr., Sergio Jara, Antonio Perez Marcial, Lucia Yolanda Chavez, Arlene Jeanette Jara, Candace Shantel Gonzales, Joseph Shawn Chavez Jr., Melissa Rochelle Jara and Ricardo Fabian Salinas in a mortgage fraud conspiracy. The indictment was returned on July 12 by a federal grand jury in Fresno and the defendants were arrested at their residences on July 17.
July 19
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The Securities Industry and Financial Markets Association has reached a consensus on the issue of cities using their power of eminent domain to refinance underwater mortgages that reside in private-label MBS, saying it will foul up the securitization process.
July 19 -
As officials at the Consumer Financial Protection Bureau sift through the latest round of comment letters on the qualified mortgage rule, chances are they see another industry fire to contend with.
July 19
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An Oregon homeowner’s fight against Merscorp Holdings was revived after a state appellate court reversed a lower court’s decision to rule in favor of the owner of the Mortgage Electronic Registration Systems before the case went to trial.
July 18
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Bank of America is growing its retail residential mortgage originations and hiring loan officers even as it continues to cut back debt and expenses in other areas.
July 18 -
FraudGuard and PredProtect have received assessments from SecureInfo that shows both of these tools have low security risk.
July 18 -
One legal expert says the use of eminent domain to seize mortgages out of private-label securities would diminish the value of the overall pool of securitized loans.
July 17
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Drawing the line between regulatory failures and regulatory implementation failures is not an easy task.
July 17 -
Home Loan Servicing Solutions acquired certain non-agency mortgage servicing assets with unpaid principal balances from Ocwen earlier this year.The impact has picked up its second quarter results.
July 17 -
Currently, borrowers in communities outside of metropolitan statistical areas with populations below 10,000 are eligible for RHS-guaranteed loans.
July 17
