News
Mortgage

PHFA announces foreclosure help for homeowners in Westmoreland County

HARRISBURG – September 30, 2013 – (RealEstateRama) — The Pennsylvania Housing Finance Agency, in collaboration with the American Society of Certified Housing Executives (ASCHE) and the National Real Estate Training Institute (NREI), today announces a day-long event for Westmoreland County residents in danger of losing their home or struggling with their mortgage. This special event will be held Oct. 10 at the Ramada Greensburg Hotel and Conference Center, 100 Ramada Inn Drive, Greensburg, from 7:00 a.m. to 7:00 p.m

Obama Signs Fitzpatrick Reverse Mortgage BILL

WASHINGTON, D.C. – August 12, 2013 – (RealEstateRama) — Congressman Mike Fitzpatrick (PA-8) joined President Obama in the Oval Office Friday for the signing of Fitzpatrick’s Reverse Mortgage Stabilization Act [HR 2167] into law.

Fitzpatrick Reverse Mortgage Bill Headed to President’s Desk

WASHINGTON, D.C. – July 31, 2013 – (RealEstateRama) — Congressman Mike Fitzpatrick (PA-8) released the following statement following the Senate’s passage of his Reverse Mortgage Stabilization Act of 2013

PHFA announces $19.5 million in tax credits and $81 million in tax exempt financing for affordable multifamily developments in Pennsylvania

HARRISBURG – July 12, 2013 – (RealEstateRama) — The board of the Pennsylvania Housing Finance Agency today approved $19.5 million in tax credits for the construction of affordable multifamily housing developments located in suburban and rural areas of Pennsylvania. PHFA has also provided more than $81 million in tax exempt volume cap funding this year, to date, for the new construction and preservation of six developments in the Commonwealth.

Fitzpatrick Helps Seniors Keep Homes Through Retirement

WASHINGTON, D.C. – June 13, 2013 – (RealEstateRama) — The Reverse Mortgage Stabilization Act of 2013 [HR 2167] – introduced by Congressman Mike Fitzpatrick (PA-8) and Congressman Denny Heck (WA-10) – passed the House Wednesday by a voice vote.

PHFA honors its best – performing lending partners

HARRISBURG – March 19, 2013 – (RealEstateRama) — The Pennsylvania Housing Finance Agency held its annual homeownership program awards event today at its headquarters to honor its top lenders for the year 2012. These lenders assist homebuyers throughout the state in the application, processing, and closing of PHFA mortgage loans.

Proposed settlement in unfair mortgage practices case

HARRISBURG – February 1, 2013 – (RealEstateRama) — Pennsylvania Attorney General Kathleen G. Kane today announced that her office, along with 45 other Attorneys General and the District of Columbia, have reached a $120 million multi-state settlement with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DocX. The proposed settlement resolves allegations that the Jacksonville-based company, which primarily provides technological support to banks and mortgage loan servicers, ?robo-signed? documents and engaged in other improper practices related to mortgage loan default servicing

Federal Jury Finds Mortgage Broker Guilty in $100 Million Fraudulent Loans Scheme

PITTSBURGH – January 30, 2013 – (RealEstateRama) — After deliberating for three hours, a federal jury of five men and seven women found Lewis Whoolery guilty of wire fraud conspiracy, United States Attorney David J. Hickton announced today.

Attorney Pleads Guilty in Mortgage Fraud Scheme

PITTSBURGH – January 29, 2013 – (RealEstateRama) — An attorney pleaded guilty in federal court to charges of wire fraud, filing false income tax returns, and failing to file income tax returns, United States Attorney David J. Hickton announced today.

Endorse funding the National Housing Trust Fund by supporting reforms to mortgage interest deduction

January 18, 2012 – (RealEstateRama) — The National Low Income Housing Coalition proposes to modify the current mortgage interest tax break by reducing the size of a mortgage eligible for a tax break to $500,000, and to convert the deduction to a 15-20% non-refundable tax credit

PHFA recognizes outstanding quality of work done by the state’s housing counselors

HARRISBURG – November 7, 2012 – (RealEstateRama) — The Pennsylvania Housing Finance Agency today celebrated the work of the state’s housing counselors with an awards ceremony at the Hilton Harrisburg. The state’s private sector counseling agencies support the mission of PHFA by assisting state residents with questions about homeownership and home foreclosure.

Governor Corbett Announces Re-Start of Homeowners’ Emergency Mortgage Assistance Program

Harrisburg – August 9, 2012 – (RealEstateRama) — Governor Tom Corbett today announced that Pennsylvania has received the $66.5 million cash portion of the previously announced $25 billion state-federal settlement with the nation’s five largest mortgage loan servicers.

Proposal to change Mortgage Interest Deduction

August 7, 2012 – (RealEstateRama) — Congressman Keith Ellison (D-MN) is expected to introduce the Housing Subsidy Fairness Act in early September. This bill would provide dedicated funding for the National Housing Trust Fund with savings generated by reform of the mortgage interest deduction.

Springfield Man Charged as Conspirator in Mortgage Fraud Scheme

WASHINGTON, D.C. – May 31, 2012 – (RealEstateRama) — Michael J. Smith, 31, of Springfield, Pennsylvania, was charged today by indictment with participating in a mortgage fraud conspiracy that caused losses of over $600,000, announced United States Attorney Zane David Memeger. Specifically, Smith is charged with one count of conspiracy to commit wire fraud, two counts of wire fraud, one count of money laundering, and forfeiture. According to the indictment, Smith, who was a mortgage broker at the time, conspired with John C. Lucidi, Jr. and Eric Maratea, both of whom are charged elsewhere, as well as numerous other individuals, in a scheme to buy properties at inflated prices so that buyers could receive kickbacks of tens of thousands of dollars. Smith was one of the alleged buyers.

Fourth Defendant in Mortgage Fraud Scheme Sentenced to Prison

January 24, 2012 – (RealEstateRama) — The United States Attorney’s Office for the Middle District of Pennsylvania, announced that a fourth defendant connected to a mortgage fraud scheme was sentenced today by Senior U.S. District Court Judge Edwin M. Kosik to spend five months in federal prison.