Articles Tagged with ''New York''

New York foreclosure firm admits to cheating Fannie Mae, VA out of millions

Rosicki, Rosicki & Associates accused of "systematically" overbilling expenses
The U.S. Attorney’s Office for the Southern District of New York announced Tuesday that it reached a settlement with Rosicki, Rosicki & Associates, in which the law firm admitted to using its wholly owned affiliates, Enterprise Process Service and Paramount Land, to overcharge Fannie Mae and the VA for millions of dollars in foreclosure and eviction-related expenses.
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Amazon breathes life into HQ2 housing markets

New headquarter locations see surge of interest from prospective buyers
Amazon has selected Long Island City, New York, and Crystal City, Virginia, as the split locations for its HQ2, and data suggest that even as early as last week, the real estate markets in these areas have boomed.
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New York opens investigation into Trump real estate tax fraud allegations

State officials respond to bombshell New York Times report
New York state officials are investigating whether President Donald Trump, his father, and his family committed tax fraud in a series of complex real estate dealings designed to avoid federal tax laws, which supposedly built the president’s fortune, multiple outlets report. The investigation comes in the wake of a sprawling New York Times investigation into the Trump family and how the president made his money.
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Redfin: Number of homes selling above list price drops

Only 23% of homes sold for more than asking
In the four weeks ending on September 23, homes that sold above asking price dipped below 2016 levels, according to the latest data from Redfin. Redfin Senior Economist Taylor Marr the fact that fewer homes are selling above their asking price is another indication that competition is getting less intense than it has been in recent years.
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RBS meets $400 million consumer relief goal by handing out $130 million in relief

Bank completes consumer relief portion of its $500 million settlement with New York
Just six months after the Royal Bank of Scotland reached a $500 million settlement with the state of New York over the bank’s mortgage practices in the run-up to the housing crisis, RBS has reached the settlement’s $400 million consumer relief goal, by providing just under $130 million in actual relief.
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New York legislation to cut Airbnb booking revenue in half

"It's just a domino effect from here"
New York’s new legislation targeting illegal short-term rental activity is slated to slash Airbnb’s New York booking revenue in half. According to an article by Bloomberg, Airbnb and its users are on track to generate $140 million in booking revenue this year, from which Airbnb takes a cut around 15%. But come January when the new legislation goes into effect, Airbnb and its hosts can kiss at least $70 million of that goodbye.
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Four states sue federal government over GOP property tax law changes

New York, Connecticut, Maryland, New Jersey sue over SALT deduction reduction
Following through on a threat made in January, the states of New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican tax reform bill, which President Donald Trump signed into law late last year. At issue is the Tax Cuts and Jobs Act’s elimination of certain state and local tax deductions, which the states claim are disproportionately harmful to their residents.
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NYCHA needs $31.8 billion to repair its properties...it only has $6.84 billion

NYCHA in hot water as neglected repairs have put hundreds of children at risk of lead poisoning
After the results of new inspections came in, the New York City Housing Authority announced that it needs $31.8 billion to fix its decrepit housing stock. According to the Wall Street Journal, this is an increase of nearly $7 billion over previous estimates.
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New York imposes new consumer protection regulations on credit reporting agencies

Governor Cuomo takes a hardline on consumer protection, mandating cybersecurity programs and other regulations
New York announced today that it is requiring credit reporting agencies with significant operations in the state to register with its Department of Financial Services and comply with its cybersecurity standards. Governor Andrew Cuomo has been a vocal proponent of increased consumer protection, especially following the Equifax data breach.
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New York man admits to rigging local elections in effort to develop real estate

Third member of conspiracy to plead guilty
Last year, two New York real estate developers, Kenneth Nakdimen and Shalom Lamm, pleaded guilty to interfering with a mayoral election in Bloomingburg, New York, including using fake voters, to try to advance stalled construction projects. Now, a third member of the conspiracy has also admitted to taking part in the scheme.
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