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

ERIE, PA - June 22, 2011 - (RealEstateRama) -- Pennsylvania Treasurer Rob McCord – seeking to reunite more than $650,000 in unclaimed property with the state’s K-12 schools – visited the Erie City School District today to return over $20,000 to administrators there, and he said the returned money should be used to help preserve educational opportunities in challenging economic times.

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

HARRISBURG, PA - June 8, 2011 - (RealEstateRama) -- The Steel City will become Gotham City when filming for “The Dark Knight Rises” begins this summer in Pittsburgh. To welcome Batman to the Commonwealth, State Treasurer Rob McCord today highlighted Pennsylvanians in Treasury’s unclaimed property database with names straight out of Gotham.

Pittsburgh, PA - June 7, 2011 - (RealEstateRama) -- The Federal Home Loan Bank (FHLBank) of Pittsburgh today announced Williamson, WV-based Bank of Mingo as its newest member. The addition of Bank of Mingo complements the nearly 200 commercial bank members of FHLBank Pittsburgh and the nearly 5,500 commercial banks within the FHLBank System. At year-end 2010, Bank of Mingo had $116 million in assets.

PHILADELPHIA, PA - May 31, 2011 - (RealEstateRama) -- Kirk H. Kirby, 40, of Capital Heights, Maryland, and Sholonda Y. Johnson, 39, of Philadelphia, were sentenced today to 60 months and 30 months in prison, respectively, in connection with a real estate investment scheme, announced United States Attorney Zane David Memeger. Kirby and Johnson pleaded guilty to three counts each of wire fraud in connection with a real estate investment scheme that caused millions of dollars in losses to lenders. Kirby owned and operated Invictus Financial Group ("IFG"), located in Havertown, PA. Johnson was a loan officer at various mortgage brokerage companies.

PITTSBURGH, PA - May 24, 2011 - (RealEstateRama) -- A resident of Richland Township, Pennsylvania has been sentenced in federal court to 27 months in prison and two years of supervised release on his conviction of wire fraud conspiracy, United States Attorney David J. Hickton announced today.

HARRISBURG, PA - May 4, 2011 - (RealEstateRama) -- The Pennsylvania Housing Finance Agency today announced that registration is open for its 2011 Housing Services Conference June 21-23 in State College at The Penn Stater Conference Center.

HARRISBURG, PA - April 22, 2011 - (RealEstateRama) -- The Pennsylvania Housing Finance Agency today announced the keynote speakers for its 2011 Commonwealth Housing Forum set for May 5 and 6 in Harrisburg.

PITTSBURGH, PA - April 14, 2011 - (RealEstateRama) -- A resident of New Kensington, Pa., has been indicted by a federal grand jury in Pittsburgh on charges of wire fraud, aggravated identity theft, filing a false tax return, and failing to file income tax returns, United States Attorney David J. Hickton announced today.

Harrisburg, PA - April 5, 2011 - (RealEstateRama) -- Governor Tom Corbett today announced that Pennsylvania has been approved by the U.S. Department of Housing and Urban Development to receive $105 million to aid homeowners facing foreclosure through the Emergency Homeowners’ Loan Program.

NEW YORK, NY - April 4, 2011 - (RealEstateRama) -- The Federal Reserve Bank of New York today released Help for Unemployed Borrowers: Lessons from the Pennsylvania Homeowners’ Emergency Mortgage Assistance Program, the latest article in its Current Issues in Economics and Finance series from the Research and Statistics Group.

March 30, 2011 - (RealEstateRama) -- PETER J. SMITH, U.S. Attorney for the Middle District of Pennsylvania, and GEORGE C. VENIZELOS, Special Agent in Charge, Federal Bureau of Investigation, announced today a former York County woman has been charged with defrauding 14 mortgage lenders, 35 homeowners and five individual investors in Cumberland, Dauphin, York, and Adams Counties out of approximately $2,700,000 between 2006 and 2008.

HARRISBURG, PA - March 23, 2011 - (RealEstateRama) -- State Treasurer Rob McCord today announced that the Pennsylvania Treasury will offer a webinar series to help employers understand and prepare for their statutory responsibility to report unclaimed property to Treasury by April 15 of each year

HARRISBURG, PA - March 16, 2011 - (RealEstateRama) --At a banquet held on today at the agency’s headquarters, the Pennsylvania Housing Finance Agency honored its top-10 participating lenders for its homeownership programs. These lenders assist homebuyers throughout the state in the application, processing, and closing of PHFA loans. Brian Hudson, executive director and CEO, recognized these outstanding organizations in their efforts to assist Commonwealth families and individuals achieve the American dream of homeownership

HARRISBURG, PA - March 15, 2011 - (RealEstateRama) -- Commonwealth Cornerstone Group, a nonprofit corporation created by the Pennsylvania Housing Finance Agency, has secured $28 million in new markets tax credit (NMTC) allocations from the U.S. Treasury Department's Community Development Financial Institutions Fund.

PHILADELPHA, PA - February 14, 2011 - (RealEstateRama) -- The Philadelphia Housing Authority (PHA) today reached its second union agreement in as many weeks, and this agreement like the first includes a major change in the way employees’ pensions are funded. This agreement is with the AFSCME District Council 33, Local 934, PHA’s second largest union.

PITTSBURGH, PA - February 4, 2011 - (RealEstateRama) -- United States Attorney David J. Hickton and key officials from federal, state and local law enforcement and regulatory agencies recognized today the three‑year anniversary of the Feb. 4, 2008, formation of the Western Pennsylvania Mortgage Fraud Task Force, and the filing of charges against 14 individuals associated with seven different mortgage fraud schemes. The individuals charged include a wide spectrum of roles associated with mortgage fraud, including a closing attorney, mortgage brokers, real estate investors, and a bank employee. The seven schemes involved approximately 320 properties and $75 million in fraudulent loans.

Philadelphia, PA - February 4, 2011 - (RealEstateRama) -- Congressman Chaka Fattah (PA-2) announced today that sponsors of affordable housing developments across the City of Philadelphia will receive a total of $1.49 million in grant money to help them complete their projects.

PITTSBURGH, PA - February 2, 2011 - (RealEstateRama) -- The 2,200-member REALTORS® Association of Metropolitan Pittsburgh (RAMP) celebrated the beginning of its 100th year of serving the real estate needs of our area’s families and businesses with the installation of its 2011 officers. More than a hundred real estate industry leaders gathered for a ceremony and elegant reception on January 14, 2011 at The Frick Art & Historical Center in Point Breeze