Standing with Saratoga County homeowners and amidst rising local anxiety, today U.S. Senate Minority Leader Charles E. Schumer launched a push to preserve popular, but increasingly at-risk tax deductions Saratoga homeowners and taxpayers depend upon to keep the Capital Region’s cost of living in-check. Whether new Saratoga homeowners, longtime owners, or those looking to buy right now, Schumer said locals are in tax jeopardy as newly-confirmed U.S. Treasury Secretary Mnuchin has suggested threats to mortgage, state and local property tax deductions.


Standing with Bayberry Community homeowners in Liverpool, NY, and amidst rising local anxiety about looming changes to tax policy that could hurt homeowners, U.S. Senator Charles E. Schumer today launched a push to preserve popular, but increasingly at-risk tax deductions: the mortgage interest deduction and the state and local property tax deduction

Governor Cuomo Announces 5th Proposal of 2017 State of the State: Comprehensive Plan to...

Governor Andrew M. Cuomo today unveiled a comprehensive plan to better protect senior citizens throughout New York from financial exploitation and foreclosure. The plan includes establishing an Elder Abuse Certification Program for banks located in New York State, amending the banking law to empower banks to place holds on potentially fraudulent transactions, and strengthening legislation that will protect senior homeowners with reverse mortgages.<

Five Defendants Charged In White Plains Federal Court With A $33 Million Mortgage Fraud...

Preet Bharara, the United States Attorney for the Southern District of New York, William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (“FBI”), and Christina Scaringi, the Special Agent-in-Charge of the Northeast Region of the U.S. Department of Housing and Urban Development (“HUD”), today announced the unsealing of an Indictment charging five defendants

A.G. Schneiderman Announces Indictment Of Brooklyn Real Estate Developer And Six Accomplices Allegedly Involved...

Attorney General Eric T. Schneiderman announced today the indictment of Brooklyn real estate developer Daniel Melamed, 40, his employee Carmen Morales, 51, former employee Denise Morales, 29, and associates Curt Joseph, 48, Christopher Magliocca, 29, Abraham Perez, 66, and David Soufeh, 37, for their roles in multiple schemes involving alleged residential mortgage fraud and larcenies throughout Brooklyn

A.G. Schneiderman Obtains $1.6 Million Settlement With Queens Company That Targeted Hispanic Homeowners In...

Attorney General Eric T. Schneiderman today announced a $1.6 million settlement with Queens-based American Hope Group, Inc. and its principal, Mauricio Villamarin Martinez (collectively “American Hope Group”), following an investigation into a fraudulent mortgage rescue scheme that preyed upon financially vulnerable Hispanic homeowners who were desperate to save their homes from foreclosure.

Second Defendant Pleads Guilty In Mortgage Fraud Conspiracy

U.S. Attorney William J. Hochul Jr. announced today that Alagi Samba, 46, of Bronx, NY, pleaded guilty to conspiracy to commit wire fraud affecting a financial institution, before U.S. District Judge Laurence J. Vilardo. The charge carries a maximum penalty of 30 years in prison and a $1,000,000 fine


Governor Andrew M. Cuomo today announced that the Department of Financial Services has proposed a regulation that mandates banks and mortgage services report vacant and abandoned properties in accordance with the new law. The proposal comes on the heels of a law signed by the Governor in June that curbs the threat posed to communities by "zombie properties" by expediting foreclosure proceedings, improving the efficiency and integrity of the mandatory settlement conferences, and obligating banks and mortgage servicers to secure, protect and maintain vacant and abandoned properties before and during foreclosure proceedings. The new law goes into effect on December 20, 2016


Conifer Realty, LLC is proud to announce that Susan Sturman Jennings, Esq., has been named one of 2016’s Top Counsel from The Daily Record.

Rep. Rice to Host Mortgage Modification Fair

U.S. Representative Kathleen Rice is hosting a Mortgage Modification Fair on Saturday, September 24th from 8:00 a.m.-3:00 p.m. at the Cradle of Aviation Museum in cooperation with Nassau County Executive Edward P. Mangano's office. Homeowners who are struggling to make mortgage payments will have opportunities to attend lectures and seminars on financial best practices by homeownership and mortgage modification specialists, and meet directly with attorneys, counselors, support groups and lenders in the exhibit zone on the lower level of the museum in order to learn how to make homeownership more affordable and avoid foreclosure.


Congressman Eliot Engel, a senior member of the House Energy and Commerce Committee, called on Housing and Urban Development (HUD) Secretary Julián Castro to issue regulations swiftly to allow co-op owners to take part in HUD’s Home Equity Conversion Mortgage (HECM) program


Mayor Bill de Blasio; U.S. Senator Chuck E. Schumer; Council Speaker Melissa Mark-Viverito; Council Members Daniel Garodnick, Daneek Miller and Donovan Richards; a number of not-for-profit organizations; and Goldman Sachs as financing partner, today announced the purchase of 24 distressed mortgages for one- to four-family homes – with a total of 41 residential units – in the Bronx, Brooklyn, Queens and on Staten Island.

New York Appellate Court Rules MERS Mortgage Is Valid

MERSCORP Holdings, Inc. today announced the Appellate Division of the Fourth Judicial Department in New York unanimously overturned the trial court’s order and found that a mortgage for which MERS was the original mortgagee was valid, and granted J.P. Morgan Chase Bank’s (the “Bank”) motion for summary judgment in its’ foreclosure action.

ICE To Acquire Majority Equity Interest in MERS

MERSCORP Holdings, Inc. and Intercontinental Exchange (NYSE: ICE), today announced that ICE will acquire a majority equity position in MERSCORP Holdings, Inc., owner of Mortgage Electronic Registration Systems, Inc. (collectively “MERS”). In addition, ICE and MERS have entered into a software development agreement to modernize and enhance the MERS® System.

Assembly Passes Legislation to Combat Zombie Homes in New York State

Speaker Carl Heastie and Judiciary Chair Helene Weinstein today announced the passage of legislation to combat the rising problem of abandoned residential properties by creating new efficiencies in the foreclosure process and imposing requirements for the maintenance of properties by a mortgagee or its loan servicing agent

A.G. Schneiderman Announces $100 Million Expansion Of Foreclosure Prevention Efforts For New York Families

Dramatic Increase In Mortgage Assistance Efforts Will Enable Thousands Of New Yorkers To Save Their Homes By Clearing Small Debts That Are Preventing Them From Avoiding Foreclosure. New Analysis Released Today Estimates Expansion Will Save $875 Million In Property Values for Neighboring Homeowners of Loan Recipients


Will your homeowner’s insurance policy protect you against damage to your home if heavy spring rains lead to flooding? “Too many people take it for granted that their homeowner’s insurance will cover flood damage, but that’s not the case. The fact is that most homeowners’ policies provide no protection at all from flooding,” said Maria T. Vullo, Acting Superintendent of Financial Services

NYS HCR & Tax Department Urge Eligible New Yorkers to Combine Their Tax Refunds...

Recipients of the Earned Income Tax Credit (EITC) May Also Be Eligible for NYS’s First-Time Homebuyer Assistance. More than 1.5 Million New Yorkers Receiving the EITC are Income-Qualified for a SONYMA Mortgage and Down Payment Assistance Loan

Rep. Rice Announces HUD Extension of Interim Mortgage Assistance for Sandy Victims in New...

U.S. Representative Kathleen Rice today announced that the U.S. Department of Housing and Urban Development (HUD) has agreed to extend the Interim Mortgage Assistance (IMA) Program beyond 20 months to a total of up to 36 months for victims of superstorm Sandy in the State of New York who are still displaced. The IMA Program provides up to $3,000 a month to displaced homeowners who are making monthly mortgage payments on a damaged primary home while also paying for temporary housing

A.G. Schneiderman Announces $470 Million Joint State-Federal Settlement With HSBC To Address Mortgage Loan...

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

New York Fed Concludes the Mortgage Operations Counterparty Pilot Program

The New York Fed concluded its Mortgage Operations Counterparty (MOC) Pilot Program on December 31, 2015. The intent of the program, which was announced in August 2014, was to explore ways to broaden the range of firms acting as counterparties in the Federal Reserve’s open market operations, and to determine the extent to which firms beyond the Primary Dealer community can augment the New York Fed’s operational capacity and resiliency in its monetary policy operations.

Rep. Rice & Assemb. Kaminsky Call on HUD to Extend Interim Mortgage Assistance for...

U.S. Representative Kathleen Rice and NYS Assemblyman Todd Kaminsky today called on the U.S. Department of Housing and Urban Development (HUD) to extend the Interim Mortgage Assistance (IMA) Program beyond 20 months for victims of superstorm Sandy. In a letter to HUD Secretary Julián Castro, Rep. Rice and Assemblyman Kaminsky urged the Secretary to approve a request for an IMA extension made by the New York State Governor’s Office of Storm Recovery in August of this year.

New York Fed Report Finds Advances in Auto Loans, Mortgage Originations

Auto debt continued its upward climb during the third quarter of 2015, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit. Auto loan balances increased for the 18th straight quarter, this time by $39 billion, and stand at $1.05 trillion as of the end of September

Mangano Announces Federal Funds To Help Residents Achieve The American Dream Of Homeownership

More than 20 applicants were assisted in the home buying process under the same program during Fiscal Years 2013-14. To be eligible, an applicant must be a first-time homeowner having not owned a home during the three years immediately prior to purchasing a residence with HOME assistance funds and must occupy the property as a principal residence

New York Fed Details Regional Household Debt and Credit

Overall consumer distress rates in New York, New Jersey, and Connecticut are lower than those in the nation, according to the Federal Reserve Bank of New York’s latest Regional Household Debt and Credit Snapshots. The 27 different Snapshots include data about mortgages, student loans, credit cards, auto loans and delinquencies for New York City (including a separate view of each of its boroughs), as well as various metro areas in New York State, northern New Jersey and western Connecticut that make up the Federal Reserve’s Second District


President’s Budget Preview would leave New York’s Infrastructure in the Dust

Congresswoman Carolyn B. Maloney (NY-12), a long time champion for investing in New York City’s infrastructure, expressed serious concerns about the proposed cuts to infrastructure investments in President Trump’s recent budget preview. On March 16, President Trump submitted to Congress his budget outline, or “skinny budget,” which proposed massive cuts to the Department of Transportation that will hamstring infrastructure projects across the country. His full budget is expected later this spring


A.G. Schneiderman, DA Gonzalez Announce The Indictments Of Nine Defendants For...

New York State Attorney General Eric Schneiderman, together with Acting Brooklyn District Attorney Eric Gonzalez, today announced that nine individuals have been variously charged with money laundering, mortgage fraud, grand larceny, conspiracy, and other charges related to their participation in a scheme to defraud mortgage lenders that spanned two New York City boroughs and resulted in over $1 million in ill-gotten mortgage loans