Tag Archives: Attorneys & Title Companies

Kroll Factual Data revealed that the loans it processes had a 1.3 percent quarterly increase in the possibility of fraudulent activity in Q2.

The Las Vegas Review-Journal reported that a federal jury convicted a Las Vegas homebuilder in an $8 million mortgage fraud scheme. According to the report, Paul Wagner, a homebuilder in the area for 20 years, was found guilty of conspiracy and fraud charges for selling houses at inflated prices in an attempt to defraud lenders.

After jumping 11 points in three months, builder confidence inched up one point in October to 41, remaining at its highest level since June 2006, the National Association of Home Builders reported Tuesday, matching economist expectations. The October boost was due entirely to a surge in homebuyer traffic in October, as other elements of the index were flat from September. The traffic index├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øwhich had been revised downward in September to 30, from an originally reported 31├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øleapt to 35, its highest level since April 2006.

One day after posting better-than-expected├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øalbeit reduced├â┬ó├óÔÇÜ┬¼├óÔé¼┬ØQ3 quarterly earnings, Citigroup announced the resignations of CEO Vikram Pandit and president and COO John P. Havens. Pandit's sudden and unexpected announcement has some analysts and investors baffled. Michael Jones, chairman and chief investment officer of Riverfront Investment Group, LLC, told Reuters he thinks the move raises "red flags everywhere."

As the market recovers, Berkery Noyes anticipates more volume in originations and greater need for alliances between mortgage and tech companies.

Irvine, California-based ICON Residential Lenders announced Sean Finn has joined the company as area sales manager of the Midwest Region for Wholesale. Finn joins the national wholesale mortgage originator and servicer from Wells Fargo, where he had a successful career in sales management.

According to FNC's Residential Price Index, home prices rose in August for the sixth consecutive month, increasing at a seasonally unadjusted rate of 0.3 percent from July. While August's month-to-month increase is modest compared to the months prior, it still represents a peak since early 2011. FNC said the increase is "consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities."

The American Civil Liberties Union announced it has filed a suit against Morgan Stanley on the grounds of encouraging loan discrimination.

Trulia is teaming with mortgage technology provider Mortech, Inc., to provide mortgage products and rate information to Trulia visitors.

A Manhattan real estate attorney was sentenced to 51 months in prison for his role in a $9 million mortgage fraud scheme, Manhattan U.S. Attorney Preet Bharara announced Friday. According to the indictment and statements made in court proceedings, Eric Finger and his co-conspirators used "straw buyers" to fraudulently obtain mortgages from lenders.