Items Tagged with 'New York real estate'

ARTICLES

  • New York using $9 million from RBS settlement to fight zombie homes

    “Zombie 2.0” initiative will give cities more money to fight blight
    Continuing a fight that stretches all the way back to 2014, the state of New York is set to give its cities millions more in funding to address the glut of “zombie homes” that still blight many communities throughout the state. According to the office of New York Attorney General Letitia James, the money for these latest grants comes from the state’s $500 million settlement with RBS for the bank’s "deceptive mortgage bond practices."
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  • Senior execs at Vanguard Funding sent to jail for embezzling $8.9 million

    CFO and COO previously admitted to using warehouse loans for personal expenses
    The former chief operating officer and chief financial officer of New York-based lender Vanguard Funding will spend between 18 and 24 months in prison after admitting to embezzling more than $8.9 million from warehouse lines of credit that were meant to fund mortgages.
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  • 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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  • 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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  • 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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  • Rentlogic raises $2.4 million in seed funding to grade NYC apartment buildings

    Proptech startup is latest in a string of startups receiving attention from investors
    Rentlogic, a tech platform utilizing an algorithm and public data to grade New York City residential buildings just closed a $2.4 million seed funding round. Funding came from Urban-X, Urban.Us and Edgar Bronfman Jr., and Rentlogic intends to use the funds to expand its operations and its sales team.
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  • New York City proposes sweeping new rules for security deposits

    City comptroller calls for security deposit limit of one month’s rent
    New York City is in the middle of an affordability crisis, and now, the city is proposing sweeping new rules to address one piece of the affordability crunch that often stands in the way of renters finding a quality apartment or moving to a new one – the security deposit. Over the weekend, the city released a new proposal that would put limits on how much landlords can charge renters upfront.
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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 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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