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PHFA honors its best – performing lending partners
March 19, 2013 Posted by Pennsylvania RealEstateRama
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
February 1, 2013 Posted by Pennsylvania RealEstateRama
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
January 30, 2013 Posted by Pennsylvania RealEstateRama
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
January 29, 2013 Posted by Pennsylvania RealEstateRama
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, 2013 Posted by Pennsylvania RealEstateRama
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
November 7, 2012 Posted by Pennsylvania RealEstateRama
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
August 9, 2012 Posted by Pennsylvania RealEstateRama
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 Posted by Pennsylvania RealEstateRama
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
May 31, 2012 Posted by Pennsylvania RealEstateRama
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 Posted by Pennsylvania RealEstateRama
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.
$28 million in judgments entered following consumer protection lawsuit in wide-reaching Central PA mortgage fraud case
December 19, 2011 Posted by Pennsylvania RealEstateRama
HARRISBURG – December 19, 2011 – (RealEstateRama) — Attorney General Linda Kelly today announced that a consumer protection lawsuit filed against several employees linked to OPFM ? a defunct financial services company operating in Reading and Lancaster counties involved in a wide-reaching Central Pennsylvania mortgage fraud case ? has resulted in judgments totaling more than $28 million in restitution for the benefit of hundreds of consumers victimized by this Ponzi scheme.
Third Defendant in Mortgage Fraud Scheme Sentenced to Prison
December 12, 2011 Posted by Pennsylvania RealEstateRama
December 12, 2011 – (RealEstateRama) — The United States Attorney’s Office for the Middle District of Pennsylvania, announced that a third defendant connected to a mortgage fraud scheme was sentenced today by Senior U.S. District Court Judge Edwin M. Kosik to spend 20 months in federal prison.
Blairsville Man Sentenced to 41 Months in Prison for Mortgage Fraud Conspiracy
November 28, 2011 Posted by Pennsylvania RealEstateRama
PITTSBURGH, PA – November 28, 2011 – (RealEstateRama) — A resident of Blairsville, Pa., has been sentenced in federal court to 41 months in prison on his conviction of wire fraud conspiracy, United States Attorney David J. Hickton announced today.
Husband and Wife Convicted in Foreclosure Rescue and Mortgage Fraud Scheme
June 30, 2011 Posted by Pennsylvania RealEstateRama
PHILADELPHIA, PA – June 30, 2011 – (RealEstateRama) — Edward G. And Jacqueline McCusker, both 47, of New Hope, PA, were convicted today in connection with a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Zane David Memeger. The couple was convicted of conspiracy to commit mail and wire fraud, conspiracy to commit money laundering, six counts of wire fraud and three counts of mail fraud. Edward McCusker was also convicted of an additional count of mail fraud. The McCuskers operated Axxium Mortgage, Inc., along with co-defendant John Bariana who pleaded guilty and is awaiting sentencing. Co-defendants Jeffrey A. Bennett and Stephen G. Doherty, owners of the Doylestown law firm Bennett & Doherty, P.C., also pleaded guilty and are awaiting sentencing
New Jersey Man Sentenced to More Than 13 Years for Foreclosure Rescue Scam
June 21, 2011 Posted by Pennsylvania RealEstateRama
PHILADELPHIA, PA – June 21, 2011 – (RealEstateRama) — Gennaro Rauso, 47, of Trenton, NJ, was sentenced today to 160 months in prison for several mortgage fraud related charges, announced United States Attorney Zane David Memeger. Rauso owned and operated a real estate management company—D&B Property Investors—that purported to help financially distressed homeowners with their foreclosure problems
