FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Items Tagged with 'Department of Justice'


DOJ reportedly pursuing criminal charges against JPMorgan Chase, RBS executives

U.S. finally targeting individuals for toxic mortgage bonds?
Following through on policy changes announced earlier this year that opened the door to individuals being held criminally responsible for corporate misconduct that helped cause the financial crisis, the Department of Justice is reportedly pursuing criminal charges against executives at the Royal Bank of Scotland and JPMorgan Chase.
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Bank of America nearing halfway mark in $7 billion consumer relief effort

Payment part of $16.65 billion settlement over toxic mortgages
Bank of America is approaching the halfway point in delivering on its $7 billion promise of consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice and others to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Wells Fargo fined $81.6 million for violating federal bankruptcy rules

DOJ: Wells Fargo failed to notify bankrupt homeowners of mortgage payment increases
Wells Fargo will return $81.6 million to homeowners after reaching a settlement with the Department of Justice’s U.S. Trustee Program over the bank’s “repeated failures” to provide bankrupt homeowners with legally required notices of mortgage payment increases.
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U.S. settles with deceased man’s estate, recovers fraudulently obtained TARP funds

Estate of former owner of One Financial to pay Fed $4 million
The estate of Layton Stuart, the late president and owner of One Financial Corporation, will pay the U.S. government $4 million to settle a lawsuit that accused Stuart of defrauding the federal government out of $17.3 million from the Troubled Asset Relief Program. Before Stuart's death in 2013, he allegedly used federal money to fund an extravagant lifestyle for himself and his family.
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Walter Investment CEO stepping down

Mark O’Brien announces retirement; Denmar Dixon named CEO
Coming just one month after Walter Investment Management Corp. agreed to pay $29.63 million in fines to settle charges brought by the Department of Justice, the company announced Monday that Mark O’Brien, the company's chairman and CEO, is retiring this week.
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Florida mortgage company owner gets 11 years in prison for leading massive fraud scheme

Defrauded HUD of $64 million, led to convictions of 24 individuals
The owner and operator of a Miami-area mortgage company will serve the next 11 years in prison. He was convicted for his part in a massive fraud scheme that defrauded the Department of Housing and Urban Development and the Federal Housing Administration of more than $64 million.
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CFPB, DOJ fine Hudson City $27M for mortgage discrimination violations

Largest redlining settlement in history
Hudson City Savings Bank will pay more than $27 million in mortgage subsidies and outreach programs for unequal access to mortgage credit in Black and Hispanic neighborhoods. The Department of Justice said the action by it and the Consumer Financial Protection Bureau is a reminder that the two will not tolerate racial discrimination in the extension of credit.
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Justice Department finally sets sights on Wall Street executives

Changes could lead to prosecution for individuals
In a move that will undoubtedly have some shouting “finally!” and others saying it’s “too little, too late,” the Department of Justice announced that it will begin to target individual employees for corporate misconduct in addition to the companies themselves. Here are all the details, straight from the DOJ itself.
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Walter Investment fined $29.6 million for False Claims Act violations

Subsidiaries allegedly submitted false reverse mortgage claims to HUD
Walter Investment Management Corp. will pay $29.63 million in fines for violations of the False Claims Act to settle charges brought by the Department of Justice, which accused several Walter Investment subsidiaries of submitting false reverse mortgage claims to the Department of Housing and Urban Development. Click here to read more.
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