It’s not every day that North Carolina’s courts recognize a new cause of action, but a North Carolina Business Court judge did just that in a June opinion allowing a borrower to bring a claim against his bank alleging that ...Read More »
Five people were sentenced last week for their roles in fraudulently acquiring bank loans to support a failing luxury home and golf course development in Henderson County. The five included two Seven Falls Golf and River Club investors, and the ...Read More »
Some 45 percent of the home equity credit lines slated to reset with higher monthly payments over the next four years in the Charlotte region are on properties that are seriously underwater, according to a new report by RealtyTrac. Generally, ...Read More »
Three more people were sentenced Wednesday on federal racketeering charges that resulted from a massive mortgage-fraud investigation begun in the Charlotte area in 2007. According to an April 2013 indictment, they were among 26 charged in various conspiracies, including mortgage ...
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Desperate to sell empty lots in a foreclosed subdivision, a group of lenders turned to a marketing company that made big promises and had the references to back them up. But those references turned out to be fake and the ...Read More »
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 ...
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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 ...
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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 »