Kurosh Mehr of Charlotte was found guilty Wednesday by a federal jury for his role in a massive mortgage fraud conspiracy that has so far ensnared 91 defendants, according to the U.S. Attorney’s Office in Charlotte. Mehr, 53, was charged ...Read More »
Banking and Finance
Foreclosure filings increased locally and around the state in August when compared with a year ago, according to data released by RealtyTrac, a national real estate analytics firm. And nationally, the number of homes scheduled for foreclosure auction rose compared ...Read More »
CHARLOTTE – A Hickory man was sentenced this week to 30 months in federal prison for his role in a mortgage and consumer fraud scheme involving the sale and financing of manufactured and modular homes throughout North Carolina. Roger Dean ...
Tagged with: Andrew B. McKeown Dennis Wayne Parris Fabian Sparrow Federal Housing Administration Homes America Isaac Ike A. Vinson IV Joseph Klakulak Marina McCuen mortgage and consumer fraud Phoenix Housing Group Roger Dean Bailey Jr. W.R. Starkey MortgageRead More »
WASHINGTON (AP) — Bank of America is nearing a $16 billion to $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, a person directly familiar with the matter said Wednesday. The deal ...Read More »
Sgt. Brandon Hunt, his wife Lauren and his two small boys now have a place they can call home, courtesy of Wells Fargo HomeMortgage and Operation Homefront, a national nonprofit that provides emergency financial assistance to families of service members ...Read More »
Wall Street is at it again, slicing and dicing securities, hoping to sell pieces of the pie to investors hungry for better returns. But instead of offering investors bonds backed by mortgages, private equity firms are looking at new financial ...
Tagged with: American Homes 4 Rent blackstone group Center for American Progress House Financial Services Committee invitation homes Jeb Hensarling Mark Takano Norbert Michel Patrick McHenry RealtyTrac REO-to-rental Robert Pittenger Sarah Edelman single-family rental securities Tricon Capital GroupRead More »
Some homeowners who got a lifeline from the federal government through a loan modification program are about to get a rude awakening as interest rates on the loans – and the payments – start to rise this year. Most payments ...
Tagged with: Al Ripley Center for Responsible Lending Center of Community Capital Louise Mack Paul LEonard Prosperity Unlimited U.S. Treasury Department's Home Affordable Modification Program University of North Carolina at Chapel HillRead More »
Two mortgage brokers are being sued by the U.S. Attorney’s Office for making fraudulent statements in order to obtain loans used in speculative real estate deals in Charlotte during the heady days before the housing crash. Joshua Hankins of Charlotte ...Read More »
A murky, internecine lawsuit over $1.2 billion involving two formerly synonymous giants of economic development in Charlotte has ended in what appears to be an equally shadowy draw. But the documents filed Tuesday in a Texas court dismissing a 2010 ...Read More »
Come Jan. 10, it may become more difficult for homeowners to obtain a mortgage. That’s when a host of new rules come into effect. Most notable among the changes for borrowers will be the ability-to-repay and qualified mortgage rules that ...
Tagged with: American BAnkers Association Bank of America Consumer Federation of America Consumer Financial Protection Bureau Dodd-Frank Wall Street Reform and Consumer Protection Act Elizabeth Eurgubian Fannie Mae Freddie Mac Independent Community Bankers of America Mel Watt Richard Cordray Terry FranciscoRead More »