2 Articles match "Fraud","New York","September"

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New York Versus Freddie Mac: Round One
New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens
www.realtytrac.com - Tuesday, February 3, 2009
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Freddie and Fannie Spurn New York Subprime Loans
Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Last week, New York Governor David A. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local mortgage
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • New York Versus Freddie Mac: Round One
    New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • Freddie and Fannie Spurn New York Subprime Loans
    Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Last week, New York Governor David A. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local mortgage
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE