Items Tagged with 'Nevada Housing'

ARTICLES

  • New Penn Financial expands into Nevada with launch of Synergy Home Mortgage

    Launches joint venture with Reno real estate agencies
    New Penn Financial, a mortgage lender that is owned by Shellpoint Partners, announced Monday that it is expanding into Nevada by launching Synergy Home Mortgage. Synergy Home Mortgage is a joint venture between New Penn and local real estate firms Dickson Realty and Ferrari-Lund Real Estate.
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  • Embattled Nevada housing agencies respond to allegations of wasted millions

    Agencies suggest newly enacted changes should help more struggling homeowners
    A recent bombshell report from a federal watchdog suggested that the agency in charge of Nevada’s portion of the government’s Hardest Hit Fund wasted $8.2 million that should have funded the program’s administration costs, while at the same time, drastically cutting the number of struggling homeowners admitted to the program. Now, the agency in question is responding to those charges, and claiming that the amount of wasted money is far less than the watchdog suggests – $8 million less, to be exact.
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  • "Pervasive culture of waste and abuse" discovered in Nevada Hardest Hit Fund program

    Investigation finds contractor wasted $8.2M as help dried up for homeowners
    Thanks to what investigators are calling a “pervasive culture of waste and abuse,” millions of dollars from the federal government that were supposed to help struggling Nevada homeowners keep their homes instead went to pay for cars, holiday parties, employee bonuses, employee gifts, employee outings, staff lunches, and a number of other wasteful expenses, a scathing investigation by a federal watchdog found.
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  • Court of Appeals rules that Nevada HOA liens do not supersede first mortgages

    Older version of state's laws ruled unconstitutional
    Mortgage lenders and investors needn’t worry about whether a homeowners' association super lien will be given priority over a first mortgage in the state of Nevada, at least for now. According to an alert published Monday by Ballard Spahr, the Ninth Circuit Court Appeals ruled last week that an older version of Nevada's laws, which previously gave super-priority status to HOA liens, is unconstitutional. Here's the skinny.
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  • Nevada Appeals Court tosses $107 million mortgage fraud penalty

    8th Amendment rescues Melissa Beecroft
    A Nevada woman who was once part of the largest mortgage fraud schemes in the history of the state will no longer forfeit $107 million after a federal court of appeals overturned part of her penalty because it violated the Eighth Amendment, which prohibits the government from imposing "excessive fines" and "cruel and unusual punishments."
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  • Nevada foreclosure crisis hurting Clinton, Sanders' efforts to get votes

    With Democratic caucus approaching, candidates' voter lists insufficient
    With the Nevada Presidential caucuses looming, the two major candidates for the Democratic nomination are struggling to contact potential voters thanks to voter lists that are out of date and insufficient due to the deep impact of the foreclosure crisis in the state.
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  • Is leasing the strategy that could help boost Lennar?

    Growth may shift from new home sales
    Due to more first-time homebuyers struggling to secure home financing, this new strategy from Lennar might be the key to boosting its upcoming earnings. Sterne Agee analyst Jay McCanless gave his forecast for what the market could expect to see from the homebuilder.
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