Items Tagged with 'New York'

ARTICLES

  • 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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  • New York suing HUD, Ben Carson to enforce Obama fair housing rule

    State joins fair housing advocates lawsuit against Trump administration
    The state of New York is moving to join a lawsuit against the Department of Housing and Urban Development and HUD Secretary Ben Carson over Trump administration recently moving to delay a controversial Obama-era fair housing rule meant to address segregation in housing.
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  • Monday Morning Cup of Coffee: Private capital is returning to the mortgage market

    Plus, developments in affordable housing
    A few weeks ago, we asked if private capital was beginning to show more interest in the mortgage market. And now, we’re starting to see more signs that interest in mortgages that don’t fit inside the Qualified Mortgage box seems to be growing. Plus, big rental-related news out of New York and Minnesota. All that, and more, in your Monday Morning Cup of Coffee.
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  • New York moves to outlaw income discrimination in housing

    Gov. Andrew Cuomo introduces bill to prevent discrimination based on income
    While the Republicans leading the Department of Housing and Urban Development are pushing to increase the rents on those who use Section 8 vouchers to afford housing, the Democratic governor of New York is moving to ensure that wanting to use a Section 8 voucher cannot be used as a means to discriminate against a prospective resident.
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  • NYDFS investigating whether rent-to-own is actually predatory lending

    Issues warning on risks of rent-to-own contracts
    The New York Department of Financial Services revealed Monday that it is currently investigating whether alternative home purchase agreements, such as rent-to-own, lease-to-own or land installment contracts, currently being offered in New York are actually “unlicensed, predatory mortgage lending.”
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  • Nationstar (aka Mr. Cooper) reaches $17 million mortgage settlement with NYDFS

    $5 million fine, $5 million to local nonprofit, $7 million to New York residents
    For the third time in the last six months, Nationstar Mortgage, the nonbank also known as Mr. Cooper, has reached a multimillion-dollar settlement with a state banking regulator over mortgage-related issues. The New York Department of Financial Services announced Wednesday that it reached a $17 million settlement with Nationstar for a number of violations of the state’s financial laws.
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  • Federal judge finalizes $25 million Trump University settlement

    Schneiderman: Victims of fraudulent university will finally receive relief
    Participants in President Donald Trump’s failed real estate school will soon be able to receive their share of the $25 million settlement Trump reached with the state of New York back in 2016. New York Attorney General Eric Schneiderman announced Monday that District Court Judge Gonzalo Curiel issued an order that finalizes the settlement, which stemmed from a lawsuit filed by Schneiderman’s office in 2013.
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  • New York foreclosure firm accused of cheating Fannie Mae out of millions

    Rosicki, Rosicki & Associates charged with “systemically overbilling” expenses
    A New York foreclosure law firm allegedly used its affiliated companies to “systemically” overcharge for foreclosure-related services and defraud Fannie Mae out of “millions of dollars.” According to the U.S. Attorney’s Office, Rosicki, Rosicki & Associates engaged in a scheme with its wholly owned affiliates, Enterprise Process Service and Paramount Land, to markup foreclosure services by as much as 750% knowing that Fannie Mae would pay the bills.
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