Florida Mortgage Modification Blog

CITYWIDE MORTGAGE COMPANY PRESIDENT PLEADS GUILTY

Jason — Tue, 12 May 2009 22:39:44 +0000

Forty-nine year old Michael O Keefe - Citywide Mortgage Company President, pled guilty before US district judge Ivan Lemelle for divulging false statements during his transaction with the American Department of Housing and Urban Development (HUD).

The charge, pled by O’Keefe,…

$ 24 MILLION FRAUD SCHEME RING LEADER SENTENCED

Jason — Mon, 11 May 2009 22:36:01 +0000

The U.S. District Judge Loretta Preska sentenced Tahir Ali Khan, the leader of a ring which used fake identification documents, to fourteen years of imprisonment for bilking more than 50 financial institutions of more than $ 24 million. Along with…

NEW MORTGAGE SUPPORT SCHEME HAS FEW TAKERS

Jason — Sun, 10 May 2009 22:28:22 +0000

Lenders, who represent more than 50 % of the mortgages in Britain, have failed to sign up the flagship mortgages support scheme from the government.

Nationalized banks were the only big groups to join the project after pressure from ministers to…

FIRM BASED IN UTAH RECEIVES FEDERAL FORECLOSURE PREVENTION MONEY

Jason — Sat, 09 May 2009 21:13:05 +0000

A Salt lake City-based financial services firm - Select Portfolio Servicing and Wells Fargo Bank were amongst first mortgage lenders to have participated in Obama’s program to assist troubled homeowners save on their loans.

The Obama administration’s $ 75 billion foreclosure…

HELOC FRAUDSTER CONVICTED BY JURY

Jason — Fri, 08 May 2009 21:05:47 +0000

Twenty- nine year old Henry Obilo from Florida’s Miami was held guilty by the jury in a bank fraud conspiracy. Obilo is likely to face maximum three decades in prison, a fine of approximately $ 17 million and five years…

DROP IN MORTGAGE RATES PROPEL REFINANCING BOOM

Jason — Thu, 07 May 2009 21:01:42 +0000

As refinancing boom gains momentum, home loan borrowers are currently cashing in on historically low mortgage rates. Figures from National mortgage refinance statistics have jumped again for March’s last week - gaining 3 percent from previous week and nearly 68.8…

LOW INTEREST MORTGAGES – HSBC DROPS INTEREST

Jason — Wed, 06 May 2009 20:59:26 +0000

Signs of revival in mortgage market emerged on Friday when competitive deals for borrowers were unveiled by HSBC for small deposits.

The biggest bank in Great Britain has announced that fixed-rate home loans were available for nearly 90 percent of property’s…

CRACKDOWN ON MORTGAGE FRAUD GATHERS STEAM IN FLORIDA

Jason — Tue, 05 May 2009 21:06:11 +0000

During this decade’s housing boom, Florida’s Gulf Coast got crawled with shady investors such as Neil Husani. As per Tampa’s U.S. Attorney’s office, Husani and three co-conspirators who worked with Sarasota-based Capital Force, bilked seven area banks out of the…

OBAMA PRAISES LOWER MORTGAGE RATE IMPACT

Jason — Mon, 04 May 2009 20:53:34 +0000

President Obama touted his administration’s efforts to decrease the mortgage rates in a round-table discussion held yesterday with homeowners from Washington area that benefitted from refinancing in more affordable loans.

The discussion held in Roosevelt Room of White House incorporated Gail…

MORTGAGE RATE IN AMERICA REACHES 4.87 %

Jason — Sun, 03 May 2009 20:19:34 +0000

Ending four weeks of decline, fixed U.S. mortgages increased last week. The industry was driven by Federal Reserve Chairman Ben S Bernanke’s plan to give a boost to housing sector by purchasing mortgage-backed securities.

The three decade home loan rose 4.87…