New York Attorney General Eric Schneiderman is warning state homeowners to beware of phone solicitations from scammers claiming to provide assistance related to the recent national mortgage servicing settlement.
The AG received reports that there are scammers impersonating [...]
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It’s possible that up to 10 million card holder accounts have been compromised.
MasterCard Inc. said Friday that it is investigating a possible breach of cardholder account data involving a U.S.-based entity.
The Purchase, N.Y., credit-card company said law enforcement [...]
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The Department of Justice has released details on a major settlement for homeowners with five of the largest US home lenders.
The $26B deal currently with the 5 key banks: Bank of America, JP Morgan, Citigroup, Wells Fargo and Ally could actually rise if state [...]
As the FDIC continues to investigate the failures of banks like IndyMac and WaMu mortgage brokers are coming under more scrutiny for the loans they originated for those wholesalers. The Federal Deposit Insurance Corp. is focused on brokers that delivered loans to the [...]
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Federal agencies will move to Amazon Web Services’ GovCloud network. Top security clearance not included.
In efforts to reduce its massive data-center footprint, the U.S. government will move to Amazon Web Services’ newest cloud-computing offering, GovCloud.
Amazon will design GovCloud specifically to handle the [...]
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This real-estate scam can land you in jail. In some cases, ‘flopping’ is a crime with serious consequences
(MarketWatch By Lew Sichelman) — Rarely has a topic elicited as much response as my column about the scam known as flopping, which is the “art” of intentionally [...]
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“A Disaster Called Countrywide”
Will Bank of America’s purchase of Countrywide Financial Corp. go down in the history as the worst mortgage franchise purchase in world history? Chances are, the answer to that question is a resounding yes. But we won’t know for several years – until all the [...]
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Borrowers face new set of credit checkups
Initiative targets last-minute changes in finances
Mortgage giant Fannie Mae rolled out its Loan Quality Initiative (LQI) June 1, thereby forcing homebuyers to obtain mortgages based on “refreshed” credit reports [...]
Continue Reading... →(Wall Street Journal) A recently discovered data breach at a New Jersey credit-card processor could rank among the biggest ever reported.
Heartland Payment Systems Inc. disclosed Tuesday that cyber criminals compromised its internal computer network, gaining access to customer information associated with the 100 [...]
Continue Reading... →Washington, DC – Federal Housing Finance Agency (FHFA) Director James B. Lockhart announced that Fannie Mae and Freddie Mac will implement a revised Home Valuation Code of Conduct (Code) effective May 1, 2009. The Code is based on an agreement between the Enterprises, the New York [...]
Continue Reading... →Beginning next year, Fannie Mae and Freddie Mac will have to obtain identification numbers for the loan officer, originating lender, and appraisers involved in each loan they buy or guarantee, their regulator said.
The requirement will help the government-sponsored enterprises monitor the performance of loans [...]
Continue Reading... →(Financial Week) The federal government is ill-equipped to stop the migration of predatory subprime lenders to the rapidly growing sector of U.S.-backed home loans, raising the specter of another cycle of lending abuses.
The Federal Housing Authority lacks sufficient staff, adequate technology [...]
Continue Reading... →Source: Boston Globe – Several Internet complaint boards are filled with comments from credit card customers from coast to coast who have noticed a mysterious charge for about 25 cents on their statements.
The charge shows up [...]
Continue Reading... →New registry makes it easier for regulators to spot the mortgage world’s con artists
Boston Globe – By Michelle Singletary – May 7, 2008 – There are lots of proposed remedies to prevent another mortgage catastrophe like the one we’re going through now. Most of [...]
Continue Reading... →Did you ever click on a banner ad advertising low mortgage rates? Did you ever submit an online mortgage inquiry?
[Tuesday, April 22 on MSNBC.COM] – LendingTree has told its customers that former employees helped unauthorized mortgage lenders hack into its [...]
Continue Reading... →Mon Mar 17, 2008 7:35pm EDT
BOSTON (Reuters) – A computer hacker stole thousands of credit card numbers after breaching security at two U.S. grocery store chains owned by Belgium-based Delhaize Group SA, the companies said on Monday.
Nearly 2,000 [...]
Continue Reading... →MBA 2007 MARI Report Exposes and Explores Residential Mortgage Fraud against Lenders in US
WASHINGTON, March 13 /PRNewswire-FirstCall/ — The Mortgage Bankers Association (MBA) today announced that the Mortgage Asset Research Institute, LLC (MARI(SM)), a ChoicePoint(R) company, has completed its 10th Periodic Mortgage [...]
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