Thursday's ruling by the appeals court reversed a decision made by a New York State Supreme Court judge in January 2014 that Bank of America did not have to repurchase the faulty loans because the trustee, Bank of New York-Mellon, did not evaluate them properly.
Read More »MiT National Land Services Recruits Leader for National Division
In New York, national title insurance firm MiT National Land Services added Daniel Eckert to its team to run the company's National Division.
Read More »Fourteen Indicted in New York Over $20 Million Mortgage Loan Fraud
Fourteen defendants have been indicted on charges in connection with a massive mortgage fraud conspiracy that was perpetrated in New York for 10 years, according to an announcement made by Preet Bharara, U.S. Attorney for the Southern District of New York, and George Venizelos, assistant director in charge of the New York Field Office of the FBI, and Carl DuBois, Sheriff of Orange County, New York.
Read More »Top New York Bank Regulator Rumored to be Stepping Down
According to multiple reports, Benjamin Lawsky, Superintendent of the New York Department of Financial Services is considering stepping down from his post and entering the private sector in 2015.
Read More »New York Regulator Accuses Servicer of Sending Backdated Foreclosure Notices
In a letter released earlier this week, Benjamin Lawsky, superintendent of financial services for New York, said an investigation of Ocwen's mortgage servicing practices turned up more than 7,000 letters sent to borrowers that had been backdated and sent only after their payment deadlines had passed.
Read More »New York AG Sues Law Firms for Mortgage Loan Relief Scam
New York Attorney General Eric Schneiderman has sued two law firms and their principal attorney, in a New York County Supreme Court accusing them of participating in a fraudulent mortgage rescue scam, Schneiderman's office announced earlier in the week.
Read More »New York AG Commits More Funds to Homeowner Protection Program
The office of New York Attorney General Eric Schneiderman will be committing up to $40 million to aid organizations that work through the Homeowner Protection Program (HOPP) to provide housing counseling and legal services to struggling homeowners, Schneiderman announced on Monday.
Read More »Alleged Real Estate Fraud Leads to New York Man’s Indictment
According to SIGTARP, Zherka secured the loans for the purchase and refinance of apartment complexes across the country, lying all the while about the purchase prices of the real estate, the amount of the down payments he was making, and his assets, income, and tax returns. He also misrepresented the circumstances of a court judgment made against him in 2000 for assault and breach of contract, the special inspector general's office said.
Read More »New York AG Pushing Legislation to Stop ‘Zombie Foreclosures’
New York Attorney General Eric T. Schneiderman and others have made a big push in recent months to pass legislation to prevent so-called "zombie foreclosures," which have become a significant problem in the state.
Read More »New York AG Announces State Loan Program to Prevent Foreclosures
The government of New York is taking further steps to try to stem the tide of foreclosures that still lingers in the Empire State today. New York Attorney General Eric T. Schneiderman announced the launch of the New York State Mortgage Assistance Program, or NYS MAP, which will provide targeted small loans to families with the aim of helping them avoid foreclosure.
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