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Author Archives: Kerri Panchuk

REO Horror Story: A Strange Place for a Jacuzzi

The business of handling real-estate owned properties has its funny and strange moments. No one knows this better than Craig Laube, president of American Foreclosures. His company has experienced its share of strange REO moments, like the time an angry homeowner left a goodbye present for the American Foreclosure REO team.

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Maryland Attorney General Targets Predatory Lenders

A group of Maryland consumers—who recently lost their homes and equity to predatory rescue schemes—have an ally in the state’s Attorney General Douglas F. Gansler. Gansler filed a complaint with the Baltimore City Circuit Court this week against four individuals and two companies—In the House Technologies and Cornerstone Title & Escrow—claiming they promised to help struggling homeowners, only to strip them of their equity and leave them without a home.

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Fannie Mae Elects New Board Member

Fannie Mae has elected John C. Sites Jr., a veteran mortgage and financial services industry professional, to its Board of Directors. As a member of the Board, Sites will oversee many issues while serving as a member of the Board’s Housing and Community Finance and Risk Policy and Capital Committees.

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Foreclosure Activity Rises Again in Third Quarter

RealtyTrac, a data provider and an online marketplace for foreclosure properties, released its Quarter Three-2007 U.S. Foreclosure Market Report on Thursday, which shows the number of foreclosure filings jumping 30-percent between the second and third quarter—and nearly 100-percent when compared to last year.

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Davidson Fink Hires New Associate

Rochester, New York-based Davidson Fink LLP, a law firm focused on everything from real estate transactions to financial and commercial litigation, has hired attorney Jeremy D. Newman to serve as an associate, specializing in residential foreclosures, real estate and loss mitigation.

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