8 Articles match "Company","Fraud","Sales"

• The Best from RealtyTrac

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• Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
  
  An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The article goes on tomake the case that foreclosure fraud crime is on the rise. an Irvine-based company thatmonitors foreclosures. The homeowner said he was trickedinto signing over the title of his home by a scam artist who didnothing to stop the foreclosure and then took out another loan againstthe property with no intention of paying it off. It is a crime thatconsumer advocates fear could become increasingly common — especiallyin
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Legislating Lower Foreclosure Rates?
  
  Local mortgage planning specialist and blogger Dan Green created the map to the right showing where mortgage fraud has been reported in Chicago (black dots and orange fill) and where the pilot program is being applied (red fill). Also below is a heat map RealtyTrac created of the Chicago area based on the number of total foreclosure filings (defaults, sales and REOs) in September. An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Don't Dump Investors
  
  Miller    When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage of government interest and activity. However, none of these efforts are a silver bullet that will undo the excesses of the past years, nor are they designed to bail out real estate speculators or those who committed fraud during the mortgage process. Don’t Dump Investors By Peter G. After all, its in our national interest to protect investors — unless, of course, theyre folks who merely bought a house or two.
  www.realtytrac.com - Tuesday, February 3, 2009
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• National Registration For Loan Officers Becomes Reality
  
  Could it be that the nice person carefully writing down your social security number and financial information has committed fraud, is barred from selling loans in another state or never took a mortgage financing class? The short answer is that it’s set up to reduce mortgage fraud and assure that state-licensed loan officers meet minimum educational requirements. National Registration For Loan Officers Becomes Reality By Peter G. Miller     What do you know about your loan officer?
  www.realtytrac.com - Tuesday, February 3, 2009
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• Foreclosure "Megatrends"
  
  Sales are down. Fraud legislation. Return of the “Jingle Mail” Already, companies are positioning themselves to profit from the wreckage of the subprime folly. Foreclosures are rising. Home prices are falling. What does all this mean?
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• New York Versus Freddie Mac: Round One
  
  You can guess what happens next: No subprime loans, no high cost loans, no buyers, no sales. They, in turn, sell securities to pension funds, insurance companies, investors and sovereign funds around the globe. Personal defenses include lack of consideration, set off and fraud.” In other words, even a mortgage created by fraud becomes legitimatized if the loan is bought in good faith. New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York.
  www.realtytrac.com - Tuesday, February 3, 2009
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• The Government Goes After Loan Officers
  
  Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a registered representative and collected compensation from the mortgage refinancings as well as the sales of securities. In making the sales, the brokers allegedly misrepresented
  www.realtytrac.com - Tuesday, February 3, 2009
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• July Foreclosure Report
  
  Foreclosures and short sales are flooding the market, accelerating the declines. 150 foreclosures for sale in this zip and hundreds more in preforeclosure. Gas kept going up the whole time, food went up, we never once shopped anywhere but discount stores, yard sales, and charity stores for our stuff. After bankruptcy, U.S. foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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