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IMPORTANT: Bing News RSS feed has moved!The U.S. Dept of Housing and Urban Development (HUD) recently released Mortgagee Letter 2011-39, which states that the current FHA lending limit of $625,500 for Home Equity Conversion Mortgages (HECMs or reverse mortgages) will continue through Dec. 31 ... Read moreCalifornia Mortgage Advisor Sue Drawdy Highlights FHA’s Extension of HECM Loan LimitsCalifornia ranked second on the activity index, but with more than $204 million in allegedly fraudulent loans, it came in first based on dollar amount. Mortgage Daily founder and publisher Sam Garcia attributed some of today's fraud cases to a review of ... Read moreFlorida leads country in mortgage fraud casesBank of America, which owns Countrywide, agreed to offer up to $3.5 billion in loan modifications and foreclosure relief to California homeowners victimized by Countrywide's mortgage fraud. But as of June 30, 2011, only roughly $80 million in ... Read moreCalifornia, Nevada Team Up To Prosecute Mortgage FraudCalifornia and Nevada, the two states hardest hit by ... over violations of an agreement covering mortgage loans and loan servicing. It also has investigated foreclosure rescue scams, Masto said, in which "the homeowner desperately looks for ... Read moreCalifornia, Nevada team up on mortgage fraudCalifornia and Nevada have joined forces to ferret out ... "When we were trying to stay in our home the company that was servicing our mortgage loan wouldn't work with us. We ended up speaking to someone in India. They would never give us ... Read moreCalifornia, Nevada partner to curb mortgage fraudAvid Law Center, an Orange County, California-based real estate and ... seek assistance in obtaining a modification on his mortgage. Upon receiving the case, Avid moved quickly to compile a loan restructuring package. They helped him complete the required ... Read moreAvid Law Center Saves Homeowner Over $450,000 in Mortgage Payments Through Successful Loan ModificatDALLAS, Dec. 13, 2011 /PRNewswire/ -- Activity climbed on mortgage fraud cases being prosecuted in California, leaving the state with ... mortgage bankers who were forced to repurchase the loans." The index fell 7 percent from the second quarter ... Read moreCalifornia Claims #1 Mortgage Fraud RankingCalifornia claims a title no state wants – a leader in mortgage fraud cases ... recently opened fraud cases that were discovered by lenders repurchasing the loans. The crimes may have been committed between three and five years ago, at ... Read moreCalifornia leads mortgage fraud casesOf all US loans in the foreclosure process at the end of the 3 rd quarter of 2011, 10.8% were in California and 5.9% were in New York, according to the Mortgage Bankers Association Without the cooperation of these states there is still plenty ... Read moreFor additional information, please see:
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