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QualityFirst Commercial Real Estate Launches New Site
QualityFirst Commercial Real Estate has announced the launch of its new Web site, http://qualityfirstcommercial.com. QualityFirst Commercial Real Estate provides a range of commercial real estate...
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Sub-Prime Specialist C-Bass Files for Chapter 11
Credit-Based Asset Servicing and Securitization LLC (C-Bass) and seven of its affiliate companies have announced that they have filed for Chapter 11 protection with the U.S. bankruptcy court in...
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New York AG Cuomo Sues Ernst & Young for Lending a Hand to Lehman Brothers'...
New York Attorney General Andrew M. Cuomo has filed a Martin Act lawsuit against Ernst & Young LLP, charging the accounting firm with helping Lehman Brothers Holding Inc. engage in an accounting...
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Mortgage Banker Gets 14 Years for Falsely Selling Credit Unions Portfolioed...
Michael J. McGrath Jr. of Montclair, N.J. has been sentenced to 14 years in prison for his role in orchestrating the $136 million fraud scheme that bankrupted Pine Brook, N.J.-based U.S. Mortgage Corp....
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Bankruptcy Organization Seeks Greater Role for Courts in Foreclosure Prevention
An analysis in the March issue of the ABI Journal found that several bankruptcy courts are dealing with the foreclosure crisis through the adoption of loss mitigation programs (LMPs). As Congress...
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FinCEN Reports: Mortgage Fraud Rises Four Percent in 2010
The Financial Crimes Enforcement Network (FinCEN) in its new report, Mortgage Loan Fraud SAR Filings In Fourth Quarter and Calendar Year 2010, has released full year data showing the number of...
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O’Connor Cochran LLP Launched to Serve Real Estate and Financial Needs
Maura O’Connor and Jim Cochran, who built and headed two successful Southern California real estate practices for major national law firms, have launched their own boutique real estate and finance...
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The PMI Group Files for Chapter 11 Bankruptcy
As a result of a previously-announced seizure by the Director of the Arizona Department of Insurance (ADI) of its primary regulated subsidiaries on Oct. 20, 2011, The PMI Group Inc. has announced that...
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SEC Charges Three Thornburg Mortgage Execs With Accounting Fraud
The Securities & Exchange Commission (SEC) has charged the senior-most executives at Thornburg Mortgage Inc. with hiding the company’s deteriorating financial condition at the onset of the...
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Majority of Americans Say Their Personal Finances Need Major Overhaul
According to the April poll hosted on the National Foundation for Credit Counseling (NFCC) Web site, when asked to describe the state of their personal financial situation, 80 percent of more than...
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Ally Financial Mortgage Subsidiary ResCap Files for Chapter 11
Residential Capital LLC (ResCap), a subsidiary of Ally Financial Inc., has announced that its Board of Directors voted to file for Chapter 11 protection along with 50 of its subsidiaries. ResCap’s...
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Nationstar Agrees to Acquire Mortgage Servicing Assets of ResCap
Nationstar Mortgage Holdings Inc. has announced that it has signed a definitive agreement to acquire certain residential mortgage servicing assets and other assets from Residential Capital LLC and...
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Canadian Man Collects $1 Million-Plus From More Than 800 Distressed Homeowners
The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and United States Attorney for the Central District of California André Birotte Jr.Click to continue
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NCUA Reports: Loans for First Mortgages Rise by 1.7 Percent in Q2
The ongoing strengthening in the performance of federally insured credit unions continued in the second quarter of 2012, according to Call Report data submitted to and compiled by the National Credit...
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Equator Announces New Servicer-to-Attorney Foreclosure Solution
Equator has launched EQforeclosure, a streamlined and transparent platform for managing the entire foreclosure process. EQforeclosure provides the foreclosure and bankruptcy teams at mortgage servicers...
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