Items Tagged with 'Connecticut'

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  • Four states sue federal government over GOP property tax law changes

    New York, Connecticut, Maryland, New Jersey sue over SALT deduction reduction
    Following through on a threat made in January, the states of New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican tax reform bill, which President Donald Trump signed into law late last year. At issue is the Tax Cuts and Jobs Act’s elimination of certain state and local tax deductions, which the states claim are disproportionately harmful to their residents.
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  • The mixed property bag for Bridgeport-Stamford-Norwalk

    Connecticut's largest MSA is rising in value as it drops slightly in population
    The Bridgeport MSA is by no means a poor area. Per capita income is $52,344, about 25% higher than its state, which is $41,087 and 150% that of the average for the nation, which is $31,128. Its median household income of $90,123 is also about 25% higher than Connecticut's as a whole and roughly 1.5 times that for the U.S.
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  • Ocwen reaches mortgage servicing settlement with Connecticut

    Settlement stipulates that Ocwen will pay $500,000 fine if it doesn’t comply
    Ocwen Financial is one step closer to ridding itself of the mortgage servicing restrictions placed on the nonbank last year when 31 states took regulatory actions over alleged escrow and other servicing issues. Ocwen disclosed late Thursday in a SEC filing that it reached a servicing settlement with the state of Connecticut.
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  • New York, New Jersey, Connecticut plan to sue federal government over GOP tax bill

    Take issue with elimination of state and local tax deductions
    The states of New York, New Jersey, and Connecticut are planning to sue the federal government over the Republican-led tax reform bill, which President Donald Trump signed into law late last year. Each of the three states’ governors say that their residents will be harmed by the tax plan’s cap on state and local tax deductions.
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  • Redfin expanding into Connecticut

    Online real estate brokerage also adds Asheville, North Carolina
    Redfin, the online real estate brokerage, is expanding. The company announced Tuesday that it is launching in Connecticut and expanding its operations in North Carolina.
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  • Former Connecticut state representative admits guilt in mortgage fraud conspiracy

    Lied about "gift" money used to buy Bristol home
    A former Connecticut state representative is facing as many as five years in prison after pleading guilty to charges stemming from a mortgage fraud conspiracy that involved lying about the nature of "gift" money that was to be used to buy a home in Bristol. The person behind the supposed "gift" to Cuevas? A fake "relative" who was actually a subordinate employee at the City of Waterbury.
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  • Ringleader of massive, brazen mortgage modification fraud scheme pleads guilty

    Joins co-conspirators in admitting guilt
    According to court documents, the group did business under at least 30 different company names, including several that closely resembled the names of legitimate businesses in the mortgage finance space, most notably Green Tree Servicing and Nationstar Mortgage. For instance, the fraudsters named two companies Green Tree Financial and Nation Star Financial.
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  • Mortgage modification fraudsters admit guilt in brazen, predatory scheme

    California men accused of preying on struggling homeowners
    Mehdi Moarefian, who is also known as "Michael Miller," and Daniel Shiau, who is also known as "Scott Decker," each pleaded guilty for their roles in a brazen, predatory scheme that cost homeowners at least $3 million. According to court documents, Moarefian, Shiau, and others did business under at least 30 different company names, including several that closely resembled the names of legitimate businesses in the mortgage finance space, most notably Green Tree Servicing and Nationstar Mortgage.
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