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  • Former Trump campaign chair Paul Manafort found guilty of tax, bank fraud

    President Donald Trump's former campaign chair was just found guilty of tax and bank fraud. A jury in Alexandria, Virginia, found former Trump presidential campaign chair Paul Manafort guilty on eight charges of tax and bank fraud. The jury, which was deliberating 18 total charges, was unable to reach a consensus on 10 of the counts. Click the headline for the full story.

Articles by Ben Lane

New Mexico sues Wells Fargo for opening up fake accounts

Attorney General Hector Balderas follows through on threat to sue bank
Back in November, New Mexico Attorney General Hector Balderas threatened to sue Wells Fargo over the bank allegedly opening up thousands of fake accounts in the state’s residents' names, and now, Balderas is following through on that threat.
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Fannie Mae, Freddie Mac ending expansion into single-family rentals

FHFA says single-family rental market can function without GSEs
Over the last year or so, Fannie Mae and Freddie Mac both expanded their presence in the single-family rental market, with both of the GSEs beginning to fund single-family rental investments for larger players in the market. But that expansion is about to end.
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SEC going after brokers for peddling shares in $1.2 billion real estate Ponzi scheme

Claims brokers were unlicensed while selling shares in Woodbridge companies
The Securities and Exchange Commission is already pursuing charges against Robert Shapiro, the founder of the Woodbridge group of companies, for allegedly bilking thousands of investors out of hundreds of millions of dollars via a $1.2 billion real estate Ponzi scheme. And now, the regulator is going after brokers who sold shares in the collapsed group of companies.
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Judge tosses civil rights groups’ suit against HUD over delaying Obama fair housing effort

Groups challenged HUD’s changes to Affirmatively Furthering Fair Housing rule
A federal judge late last week dismissed a legal challenge from three civil groups over the Trump administration’s move to delay and change a controversial Obama-era fair housing rule. The groups hoped to have the rule reinstated. But that won't be happening now.
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HUD launching push to get more landlords to accept housing vouchers

HUD says studies show voucher acceptance is far too low
It’s apparently far too difficult for low-income households to use the Department of Housing and Urban Development’s housing voucher program to gain access to affordable housing and HUD is planning to do something about it. HUD announced Monday that it is launching a push to get more landlords to accept housing vouchers, citing two studies that claim that the housing voucher program is not functioning as it should be.
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Monday Morning Cup of Coffee: Facebook responds to HUD’s housing discrimination allegation

Social media giant says discrimination is prohibited by site’s policies
In case you missed it late Friday, HUD accused Facebook of allowing a modern, technologically enhanced form of redlining, wherein Facebook allows advertisers to use its mountains of data to target housing ads to very specific audiences. Here, the company responds. That, and more, in your Monday Morning Cup of Coffee.
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HUD accuses Facebook of enabling housing discrimination

Alleges that social media goliath makes it easier to discriminate
Facebook allows landlords and property owners to discriminate against prospective renters and buyers based on their race, color, religion, sex, familial status, national origin, disability, or other factors, HUD said Friday.
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Credit Karma enters the mortgage business by buying Approved

Personal finance company has more than 80 million members
Credit Karma, the personal finance company that provides its 80 million members with products and services to manage their finances and connects those members to financial services providers, is officially getting into the mortgage business by acquiring Approved, a digital mortgage platform.
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Inside the scandal that could explode multifamily real estate

WSJ reports on massive multifamily mortgage fraud investigation
Everything is going swimmingly in multifamily real estate these days, right? Rents keep rising, construction is still chugging along, deals are being made, and delinquencies are still at historic lows. So everything’s good, right? Maybe not. It appears there could a deep, dark secret at the core of multifamily lending. Fake residents, fake incomes, and inflated mortgages. Sound familiar?
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