News

Oregon warns residents about 'fraudulent' loan modifications

State alerts residents to avoid Liberty One Mortgage
Oregon residents should avoid doing any kind of business with Liberty One Mortgage because the company is unlicensed, unregistered, and is engaging in mortgage fraud, the Oregon Department of Consumer and Business Services said. During an investigation, it was discovered that the Studio City, California address Liberty One provided on documentation to Oregon homeowners was actually the location of an Indian food restaurant.
Read More

SMS Assist expands into single-family rental property management

Adds Mike Travalini as president of residential service team
SMS Assist, a mobile and cloud-based multisite property management company, announced its expansion into residential real estate with the creation of its residential service team. According to a release from the company, SMS Assist is launching its residential division with "major clients" already on board, including Colony Starwood Homes, Home Partners of America and others.
Read More

Appraisal Institute, RESNET partner to increase green home education

Will work together to present education programs on real estate valuation
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, and Residential Energy Services Network, also known as RESNET, announced the signing of a "cooperation agreement" to promote education, research and data standards surrounding energy efficient homes.
Read More

National MI, Capital Markets Cooperative announce partnership

National MI named 'preferred provider' for CMC
National Mortgage Insurance Corporation, a provider of private mortgage insurance, announced that it formed a “strategic partnership” with Capital Markets Cooperative, a nationwide alliance of mortgage bankers that provides exclusive offerings and value-added services to its members. As part of the partnership, National MI will be named a “preferred provider” of private mortgage insurance.
Read More

HSBC reaches $601M settlement over charges of 'abusive mortgage practices'

Settlement reached with DOJ, HUD, CFPB, Federal Reserve, 49 states
HSBC agreed to a $601 million settlement with a series of federal agencies and nearly every state over charges that the bank engaged in mortgage origination, servicing and foreclosure abuses. The massive settlement with HSBC was jointly announced Friday by the Department of Justice, the Department of Housing and Urban Development, the Consumer Financial Protection Bureau, 49 states and the District of Columbia.
Read More