RALEIGH – Standard and Poor’s will pay $21.5 million to North Carolina to resolve the Attorney General’s state lawsuit claiming the company inflated ratings for risky securities and misrepresented its objectivity before the 2008 financial crisis, Attorney General Roy Cooper ...Read More »
Banking and Finance
Five more sentenced in Wax House; investigation into investment and mortgage fraud conspiracy has netted 89
CHARLOTTE – Five people were sentenced this month for their roles in real estate and financial fraud activities that were uncovered in the massive federal investigation dubbed Operation Wax House, the U.S. Attorney’s Office in Charlotte announced Thursday. Most recently, ...Read More »
CHARLOTTE – A panel of real estate specialists said Monday that Charlotte can expect to see recent job, population and economic growth continue, especially if the banking industry starts generating more jobs. “If banking gets going, Charlotte could be looking ...
Tagged with: C. Walker Collier III DAniel Huffenus DTZ Eighth Annual Outlook on the Commercial Real Estate Market Elizabeth Wilson GreerWalker John Boylan Katten Muchin Rosenman Kevin Thorpe Spectrum Properties Carolinas Trinity Capital AdvisorsRead More »
In what may prove to be a controversial move, the Federal Housing Financing Agency has directed Fannie Mae and Freddie Mac to alter their policies on the sale of some 121,000 foreclosed properties in their portfolios. But just how many ...Read More »
CHARLOTTE – GoodSports Enterprises is moving along in its attempts to find financing for its part of the proposed amateur sports complex near Bojangles Coliseum. The Sarasota, Fla.-based company is looking at possible equity partnerships and will update the city ...Read More »
Charlotte area foreclosures were up in the third quarter compared to the second quarter – as well as the third quarter of 2013, according to RealtyTrac. In monthly comparisons, the number of homes in some stage of foreclosure was down ...Read More »
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 »
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 »