Monday Morning Cup of Coffee: When will mortgage lending pick up?

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie

Fannie Mae: 3 reasons why this oil glut won't crash housing

It isn't the 1980s anymore

The Wrap: Appraisal activity continues to pick up in second week of August

Appraisal Foundation joins HousingWire
W S

Items Tagged with 'Department of Justice'

ARTICLES

Virginia woman gets five years in prison for short sale scams

Hard time coming for Charise Stone
A Virginia woman will spend the next five years in federal prison after being convicted of 13 counts of mortgage fraud, passing fictitious financial instruments and tax fraud. According to the Department of Justice’s Tax Division, Charise Stone, 46, of Ashburn, Virginia, targeted distressed homeowners in a series of short sale scams.
Read More

Bank of America senior management shakeup continues

Seeking replacement for top lawyer, overseer of $16.5 billion DOJ settlement
The senior management shakeup at Bank of America is continuing. According to multiple reports, Bank of America is interviewing “possible successors” for Gary Lynch, who serves as the bank’s global general counsel.
Read More

Quicken Loans CEO: The FHA has been hijacked by the Department of Justice

Bill Emerson tells HousingWire why Quicken is fighting back
Much of the industry scuttlebutt of late has been focused on Quicken Loans with its decision to sue the Department of Justice and the Department of Housing and Urban Development. In an exclusive interview with HousingWire, Quicken Loans’ CEO Bill Emerson said that the lender is not going to give in to the government’s pressure and tells us what's really going on.
Read More

First Tennessee Bank to pay $212.5 million for faulty FHA underwriting

Settlement with DOJ stems from False Claims Act violations
First Tennessee Bank, the regional bank for First Horizon National, will pay $212.5 million to resolve allegations that it violated the False Claims Act by “knowingly originating and underwriting mortgage loans insured by the Federal Housing Administration that did not meet applicable requirements,” the Department of Justice announced Monday.
Read More

Quicken Loans wins first round in court battle versus DOJ, HUD

Judge rules Quicken's suit against Feds will be heard first
Quicken Loans secured the first victory in its gutsy battle against the U.S. Department of Justice and the Department of Housing and Urban Development. A federal judge ruled that Quicken’s lawsuit against the government will be heard, before the government’s case against Quicken is heard in a separate court, which favors the massive mortgage lender. Click the headline for HousingWire's extensive coverage.
Read More

JPMorgan Chase: Hold the phone on those DOJ robo-signing charges

Claims DOJ misrepresented settlement agreement
JPMorgan Chase is pushing back at the Department of Justice’s claims that it admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviewed the accuracy of the notices.” According to Chase Vice President and Head of External Communications Jason Lobo, Chase made no such admissions, despite agreeing to the settlement.
Read More

DOJ fines JPMorgan Chase $50 million for robo-signing

Chase admits to misfiling mortgage documents
JPMorgan Chase admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviewed the accuracy of the notices,” and will pay more than $50 million to homeowners as part of a settlement with the U.S. Department of Justice over its mortgage practices.
Read More

Morgan Stanley expects mortgage bond lawsuit from New York AG

Subprime securitizations at the center of lawsuit
It turns out that Morgan Stanley is not out of the woods when it comes to trouble with regulators. Far from it, in fact. The company disclosed that it is expecting to be the subject of a lawsuit filed by New York Attorney General Eric Schneiderman over approximately 30 subprime securitizations sponsored by the company.
Read More