Items Tagged with 'New York housing'

ARTICLES

  • Flat-fee real estate agency Purplebricks plans expansion to New York

    U.K. company first launched in U.S. in September 2017
    Last year, flat-fee real estate agency Purplebricks expanded into the U.S. after building a successful business in the United Kingdom and Australia. Purplebricks’ first foray into the U.S. was Los Angeles. Now, the company is plotting the next phase of its U.S. expansion and is looking to the opposite coast.
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  • Direct-to-consumer title insurer OneTitle expands to New Jersey

    Acquires “significant interest” in New Jersey’s Sovereign Title
    Until now, direct-to-consumer title insurer OneTitle National Guaranty Company operated only in the state of New York. But thanks to a “strategic partnership” between OneTitle and New Jersey’s Sovereign Title Agency, OneTitle is expanding into the Garden State.
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  • Morgan Stanley completes $400M consumer relief obligation for $3.2B mortgage settlement

    Settlement required company to provide relief to New Yorkers
    Morgan Stanley recently completed its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. The settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide consumer relief for New York residents affected by the company’s alleged actions.
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  • New York cracks down on title insurers with new rules for kickbacks, fees

    Strengthens rules first established in 2015
    Building on an effort first launched in 2015, the New York Department of Financial Services announced Tuesday that it is cracking down on “unscrupulous practices” in the title insurance business and establishing new rules surrounding kickbacks and the fees that title insurers charge to customers.
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  • Morgan Stanley closing in on $400 million in consumer relief for mortgage bond settlement

    Moves past 90% in consumer relief obligation
    Morgan Stanley is nearing the end of its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. The settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide $400 million in consumer relief.
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  • Former attorney gets 3+ years in prison for defrauding real estate investors

    Bilked at least four investors out of $1 million total
    A former attorney from New York will spend more than three years in prison for defrauding real estate investors out of at least $1 million. According to the U.S. Attorney’s Office for the Southern District of New York, Brandon Lisi received a sentence of 38 months in prison for his role in a scheme to defraud at least four individual investors in real estate transactions of more than $1 million.
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  • New Yorkers accused of defrauding government by pretending Hurricane Sandy destroyed their home

    Claimed damaged home was theirs, but home was actually abandoned
    A Staten Island, New York couple stands accused of defrauding the federal government out of $750,000 by pretending that they owned a home that was damaged by Hurricane Sandy. Court documents show that they actually abandoned the home seven months before the storm hit, but still claimed that they lived there and used that deception to “unlawfully obtain” over $750,000 in aid intended for people displaced by the storm.
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  • New York City guarantees legal representation to low-income residents facing eviction

    City will pay for legal counsel for low-income tenants
    Over the last several years, New York City has been aggressive in seeking to decrease the number of evictions that happen in the city, going so far as set aside nearly $50 million in 2014 and 2015 to provide legal services for residents facing eviction. Now, the city is taking its fight against evictions to another level by becoming the first city in the country to guarantee legal representation to low-income tenants who are facing eviction.
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  • Morgan Stanley nears $400 million in consumer relief for mortgage bond settlement

    Moves past 85% mark in consumer relief obligation
    Morgan Stanley is nearly finished with its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. A new report from Eric Green, the independent monitor of the consumer-relief portion of the settlement, shows that Morgan Stanley’s consumer relief total now exceeds $338 million.
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  • Douglas Elliman Real Estate wins $4.75 million from rival agency over agent poaching

    Jury orders William Raveis Real Estate to pay up
    One of the nation’s largest real estate companies is in line for a nearly $5 million payout after a jury found that a rival agency poached a dozen agents from the company. Earlier this week, a jury in New York Supreme Court, Westchester County, ruled in favor of Douglas Elliman Real Estate and ordered William Raveis Real Estate to pay $4.75 million.
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