Ditech Financial will pay $1.4 million to the state of Massachusetts to settle charges that the company engaged in “abusive debt collection practices” by excessively calling borrowers to collect payment as well as not property notifying some borrowers of their mortgage information, the state’s attorney general announced recently.
Because it's stressful enough to have a child critically ill in the hospital, radius financial group is supporting the MBA Opens Doors foundation to help parents with mortgage payments while caring for their children.
HSBC will pay a fine of $4 million as part of a settlement with the state of Massachusetts over charges that the bank took commissions and kickbacks for force-placed insurance policies. According to the office of Massachusetts Attorney General Maura Healey, HSBC received "compensation" in connection to the force-placed insurance premiums charged to HSBC’s borrowers.
Massachusetts-based Sage Bank will pay nearly $1.2 million to settle charges brought against the bank by the Department of Justice, which accused the Sage Bank of "engaging in a pattern or practice of discrimination on the basis of race and national origin in the pricing of its residential mortgage loans."
A Massachusetts real estate attorney pleaded guilty last week to charges stemming from a wide-ranging scheme to defraud banks and mortgage companies as part of a conspiracy involving numerous sham short sales. In some cases, the purported third-party buyers were actually the spouses, parents or children of the purported sellers.
Realtors and real estate agents who choose to affiliate with a real estate brokerage will continue to be allowed to designate their own employment status after the Massachusetts State Supreme Court upheld a lower court’s ruling.
For many observers, “skin in the game” is synonymous with a large down payment that limits lender or investor risk. However, skin in the game can be defined much more broadly, since financial investment is only one factor that mitigates risk.
The Silicon Valley area added 385,000 jobs between 2010 and 2015, but only issued building permits for 58,000 units in that same time frame, creating an unsustainable housing marker that shuts out all but the richest buyers. What, if anything, can be done to cool off skyrocketing home prices?