Mortgage
NYS Housing Finance Agency and Affordable Housing Corporation Approve Nearly $14.5 Million in Financing to Preserve 280 Affordable Homes on Long Island
November 14, 2008 Posted by New York RealEstateRama
NEW YORK - November 14, 2008 - (RealEstateRama) – New York State approved nearly $14.5 million in financing today to preserve 280 units of affordable housing on Long Island. The actions were taken by the boards of the New York State Housing Finance Agency (HFA) and its subsidiary, the New York State Affordable Housing Corporation (AHC).
DEFENDANT INDICTED IN $20 MILLION MORTGAGE FRAUD SCHEME
October 27, 2008 Posted by New York RealEstateRama
BROOKLYN, N.Y. - October 27, 2008 - (RealEstateRama) — An indictment was unsealed this afternoon in Brooklyn federal court charging Osmond Decoteau, 48, with wire fraud for masterminding a scheme to defraud mortgage lenders and banks of more than $20 million in connection with the sale of several properties located in Brooklyn and Florida, announced U.S. Attorney […]
MORTGAGE BROKER PLEADS GUILTY IN MULTIMILLION DOLLAR MORTGAGE FRAUD SCHEME
October 25, 2008 Posted by New York RealEstateRama
New York, NY - October 23, 2008 - (RealEstateRama) — MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York, announced that JOSEPH PAPERNY pleaded guilty today before United States District Judge RICHARD J. HOLWELL in Manhattan federal court to participating in a multimillion-dollar subprime mortgage fraud scheme. According to the […]
Senator Clinton Joins Housing Advocates to Renew Call to Help Homeowners Hit Hard by the Economic Crisis
October 16, 2008 Posted by New York RealEstateRama
NEW YORK, NY - October 6, 2008 - (RealEstateRama) — Senator Hillary Rodham Clinton was joined at a press conference today by economic development and housing advocates at ACCION New York and New Jersey, a microlender that serves small businesses with loans and financial counseling, to outline the next necessary steps that will help homeowners […]
THREE PLEAD GUILTY IN MULTIMILLION DOLLAR MORTGAGE FRAUD SCHEME
October 11, 2008 Posted by New York RealEstateRama
New York, NY - October 11, 2008 - (RealEstateRama) — MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York, announced that GARRI ZHIGUN and his mother GALINA ZHIGUN, operators of mortgage brokerage firm AGA Capital NY, Inc. (”AGA Capital”), and MARYANN FURMAN, an employee of AGA Capital, pleaded guilty today […]
Debt Obligations Were Backed by Fixed-Income Assets, Including Subprime Mortgages
September 4, 2008 Posted by New York RealEstateRama
Brooklyn, NY - September 3, 2008 - (RealEstateRama) — A superseding indictment was unsealed today in federal court in Brooklyn charging JULIAN TZOLOV and ERIC BUTLER, former brokers at Credit Suisse Securities (USA) LLC (“Credit Suisse”) with conspiracy, securities fraud, and wire fraud. The superseding indictment alleges that the defendants schemed to obtain higher sales […]
SEC Charges Two Wall Street Brokers in $1 Billion Subprime-Related Auction Rate Securities Fraud
September 4, 2008 Posted by New York RealEstateRama
September 3, 2008 - (RealEstateRama) — The Securities and Exchange Commission today charged two Wall Street brokers with defrauding their customers when making more than $1 billion in unauthorized purchases of subprime-related auction rate securities. The SEC’s Division of Enforcement in 2007 formed a subprime working group, which is aggressively investigating possible fraud, market manipulation, […]
Banking Department Issues Industry Letter Detailing Components of New Subprime Legislation
August 29, 2008 Posted by New York RealEstateRama
New York, NY - August 27, 2008 - (RealEstateRama) — The New York State Banking Department today issued an industry letter providing an overview of the various components of the new subprime legislation, much of which goes into effect Sept. 1, 2008. The letter was distributed to mortgage bankers and brokers, mortgage-related industry groups, and […]
Statement on SONYMA Section 8 Voucher Homeownership Mortgage Program
August 29, 2008 Posted by New York RealEstateRama
New York, NY - August 29, 2008 - (RealEstateRama) — The State of New York Mortgage Agency has announced several changes in its Section 8 Voucher Homeownership Mortgage Program. This program gives Section 8 homeownership voucher recipients the opportunity to obtain a SONYMA mortgage and buy a home.
SONYMA to Issue $168 Million in Bonds to Finance Near-Record First-Time Homeowner Mortgages
August 19, 2008 Posted by New York RealEstateRama
NEW YORK - August 5, 2008 - (RealEstateRama) — The State of New York Mortgage Agency (SONYMA) has priced the issuance of $168 million in bonds to fund near-record demand for the Agency’s low-interest fixed-rate mortgage loans, which are available to low- and moderate-income first-time homebuyers throughout New York State.