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.
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.
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
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.
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.
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
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.
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.
Congressman Jim Langevin and Senator Sheldon Whitehouse today joined with state, town, and labor officials by the Factory Bridge in West Warwick to call on Congress to pass the Strengthen and Fortify Existing (SAFE) Bridges Act. The SAFE Bridges Act was introduced in the Senate by Senator Jeanne Shaheen (D-NH), Whitehouse, and others last month and will be introduced in the House this week by Langevin. The bill would deliver up to $170 million to repair Rhode Island’s deficient and crumbling bridges and create construction jobs