Items Tagged with 'New York'

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New York unveils $13 million program for cities' fight against zombie homes

New grant program uses Morgan Stanley settlement funds
The state of New York takes its next steps in its ongoing battle against neighborhood blight caused by abandoned foreclosures by unveiling a new program designed to help cities throughout the state fight back against the rise of zombie homes. And the state is using money from a massive settlement with Morgan Stanley to do it.
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RealtyUSA merges with Howard Hanna, forms nation's "3rd largest real estate company"

Combined company will have 9,000 sales associates and employees in 270 offices
Howard Hanna Real Estate Services, the largest real estate broker in Pennsylvania and Ohio, is merging with RealtyUSA, the largest real estate broker in New York, to form what the companies are calling the "third largest real estate company in the United States."
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New York launches "first of its kind" program; will buy delinquent mortgages from FHA

NYC set to buy loans to keep homeowners out of foreclosure
In what officials are calling a "first of its kind" program, the city of New York announced Thursday that it is plans to buy a number of delinquent loans from the Federal Housing Administration as part of an effort to keep struggling homeowners from losing their homes to foreclosure. Here are all the details.
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Groundbreaking ruling? Federal jury finds Emigrant Bank liable for predatory lending

Plaintiffs' lawyers claim decision is first jury verdict in "reverse redlining" case
In what the plaintiffs’ attorneys are calling a "first of its kind" decision, a federal jury in Brooklyn ruled this week that Emigrant Savings Bank and Emigrant Mortgage Company engaged in predatory lending by "aggressively marketing toxic mortgages to Black and Latino homeowners with poor credit" in the run-up to the housing crisis.
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Disbarred New York lawyer gets 3 years for phony ticket resale, real estate schemes

Fraudulently told investors he'd buy Super Bowl tickets, New York real estate
A disbarred New York attorney will spend more than three years in prison after being convicted on multiple charges stemming from his involvement in a ticket resale fraud scheme and a real estate investment fraud conspiracy that cheated multiple victims out of more than $3 million.
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New York adopts "sweeping" new laws to tackle foreclosure problems

Will fight rise of zombie homes; new rules imposed on lenders, servicers
While the U.S. Senate could soon consider new rules governing the maintenance of foreclosed homes and the glut of "zombie homes" that blight many communities throughout the country, the state of New York is taking the matter into its own hands. Late last week, New York Gov. Andrew Cuomo signed "sweeping" legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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NYDFS reportedly probing dozens of online lenders

Reuters: NYDFS demanded "immediate compliance" with state licensing rules
The New York Department of Financial Services, the state's financial regulator, launched a probe recently into the lending actives of more than two dozen online lenders, according to a report from Reuters. Here are the details.
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