Items Tagged with 'Maryland'

ARTICLES

  • 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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  • JPMorgan Chase significantly expanding in Washington, D.C. area

    Opening up to 70 new branches, hiring 700 new employees
    JPMorgan Chase currently has a presence in the Washington, D.C. area, with more than 250 employees operating in the region, but the megabank will soon launch an expansion that will more than triple its workforce in the D.C. area. Chase announced Thursday that it is planning a massive expansion in the D.C. area, including adding as many as 70 new branches and hiring up to 700 new employees in northern Virginia, Washington, D.C. and Maryland.
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  • Ocwen settles with Maryland, but settlement carries stiffer penalties than previous states

    Fined $500,000, must provide $273,500 to borrowers, and more
    In the last several months, Ocwen reached settlements with nearly every one of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other mortgage servicing issues. Ocwen continued that settlement streak this week, reaching a settlement with Maryland, but while many of the previous settlements carried similar terms, the Maryland settlement goes even further and carries stiffer penalties.
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  • Deutsche Bank reaches $95 million RMBS settlement with Maryland

    Settlement over crisis-era mortgage bonds is related to $7.2 billion DOJ agreement
    The state of Maryland announced last week that it reached a $95 million settlement with Deutsche Bank over claims that Deutsche Bank misled investors about its securitization and sale of residential mortgage-backed securities and collateralized debt obligations during the run-up to the financial crisis.
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  • Feds bust massive mortgage fraud scheme

    Leader sent to prison for almost 5 years, ordered to repay $2.5 million
    A former real estate agent will spend the next 57 months in prison after being convicted of conspiracy to commit wire fraud and aggravated identity theft, stemming from a massive residential mortgage fraud scheme that defrauded lenders, the Federal Housing Administration, Fannie Mae, and Freddie Mac of nearly $2.5 million.
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