Mortgage

Mortgage

MERS Mortgage Assignment Valid

MERSCORP Holdings, Inc. today announced the Rhode Island Superior Court granted summary judgment in MERS’ favor. In pdf Mendoza v. Mortgage Electronic Registration Sys., Inc. (177 KB) , the plaintiffs attacked the validity of a MERS assignment by claiming that MERS was not authorized to execute the assignment of a mortgage.

Attorney General Kilmartin Reaches $470 Million Joint State-Federal Settlement with HSBC to Address Mortgage...

Attorney General Peter F. Kilmartin today announced a $470 million joint state-federal settlement with mortgage lender and servicer HSBC to address mortgage origination, servicing, and foreclosure abuses

Mortgage Loan Originator Pleads Guilty, Unlicensed Appraiser Charged in Ongoing Mortgage Fraud Investigation

An ongoing federal and state law enforcement investigation into alleged mortgage fraud in Rhode Island has resulted to date in a former mortgage originator pleading guilty in federal court to conspiracy to commit bank fraud, and an unlicensed real estate appraiser being charged with allegedly stealing the identity of other appraisers when performing and submitting real estate appraisals to banks as documentation for mortgage loan applications.

Raimondo, Rhode Island Housing Launch ‘Ocean State Grad Grant’ to Attract Young Professionals to...

Governor Gina M. Raimondo today joined with representatives of Rhode Island Housing and Rhode Island College to launch Ocean State Grad Grant, a new program designed to encourage recent college graduates to make their home in Rhode Island.

AG Kilmartin Stops NY Law Firm From Practicing in Rhode Island for Improper Mortgage...

After receiving a consumer complaint, Attorney General Peter F. Kilmartin initiated an investigation into the Litwvin Law Firm for allegedly charging homeowners steep up-front fees for mortgage modification services. Through the course of the investigation, it was determined the New York-based law firm was in violation of Rhode Island's Deceptive Trade Practices Act and the Mortgage Foreclosure Consultant Regulation Act. In addition, it was determined the law firm was not licensed to practice in Rhode Island

Supreme Court of Rhode Island Upholds the MERS Business Model and MERS Authority to...

Reston, Virginia - January 2, 2013 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the Supreme Court of Rhode Island held in Mruk vs. Mortgage Electronic Registration Systems, Inc., (MERS) et al. that MERS’ business model with MERS holding legal title to the mortgage as the nominee for the owner of the note is consistent with Rhode Island law.

AG Kilmartin Announces $2.1 Billion National Settlement with Ocwen Financial Corporation for Abuses Over...

WASHINGTON, D.C. - December 20, 2013 - (RealEstateRama) -- Attorney General Peter F. Kilmartin today joined the federal Consumer Financial Protection Bureau (CFPB) and 48 additional attorneys general to announce a two billion dollar settlement with Ocwen Financial Corporation (Ocwen), and its subsidiary, Ocwen Loan Servicing, for its role in mortgage foreclosure abuses and deceptive mortgage servicing practices.

AG Kilmartin and Mayor Taveras Host Mortgage Foreclosure Prevention and Loan Modification Workshop

WASHINGTON, D.C. - October 3, 2013 - (RealEstateRama) -- Attorney General Peter F. Kilmartin and Providence Mayor Angel Taveras, in partnership with the Loan Modification Scam Alert campaign, will host a free mortgage foreclosure prevention and loan modification workshop on Saturday, October 5, 2013, 9:00 a.m. – 12:00 noon at the CCRI Providence Campus.

AG Kilmartin Reports on National Mortgage Settlement Progress

WASHINGTON, D.C. - August 22, 2013 - (RealEstateRama) -- The fifth and final progress report made by the five mortgage service providers and attorneys general nationwide under the National Mortgage Settlement ("the Settlement") was released today by Attorney General Peter F. Kilmartin and Settlement Monitor Joseph P. Smith. The data included in the report indicates that nationally the banks have or soon will meet their consumer relief obligations under the Settlement, providing 643,726 borrowers some type of consumer relief totaling $51.33 billion, which, on average, represents about $79,742 per borrower

AG Kilmartin Comments on National Mortgage Settlement Report on Compliance with Servicing Standards

WASHINGTON, D.C. - June 19, 2013 - (RealEstateRama) -- Attorney General Peter F. Kilmartin today reported on the nation's five largest mortgage service providers' compliance with the servicing standards required by the national mortgage settlement.

AG Kilmartin Announces National Mortgage Settlement Checks to Be Mailed this Month

WASHINGTON, D.C. - June 4, 2013 - (RealEstateRama) -- Attorney General Peter F. Kilmartin today announced that approximately 2,737 Rhode Island homeowners who submitted a valid foreclosure payment claim through the National Mortgage Settlement will receive a check this month for approximately $1,480.

Recent

Two Indicted in Sweeping Mortgage Fraud Investigations

A 14-count federal indictment filed in U.S. District Court in Providence charges two individuals, Hasan Hussain, 55, of Princeton, N.J., and Ricardo Abreu, 50, of Cranston, R.I., with allegedly participating in a conspiracy to defraud financial institutions, investors and financially distressed homeowners of at least 14 properties in Providence, Pawtucket and Cranston of fees, rental income, mortgage payment funds, property ownership and/or proceeds from the sale of their properties