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Manhattan U.S. Attorney Charges Three Defendants in Multi-Million-Dollar Mortgage Fraud Scheme
February 24, 2010 Posted by New York RealEstateRama
New York, NY- February 24, 2010 - (RealEstateRama) — PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (”FBI”),
Mayor Bloomberg, Environmental Protection Commissioner Holloway Launch New Program to Relieve Water Debt and Help Prevent Mortgage Foreclosures
February 8, 2010 Posted by New York RealEstateRama
New York, NY - February 8, 2010 - (RealEstateRama) — Mayor Michael R. Bloomberg and Department of Environmental Protection Commissioner Cas Holloway today launched the Water Debt Assistance Program, a new initiative that will temporarily relieve homeowners at risk of foreclosure of past-due water and sewer debt.
Hinchey, Cummings Leading Effort in Congress to Convince Obama Administration to Reverse Plan & Continue Homeownership Assistance
February 4, 2010 Posted by MarcumRosenfarb LLC
Washington, DC - February 4, 2010 - (RealEstateRama) — With the strength of the housing market linked directly to overall economic prosperity, Congressman Maurice Hinchey (D-NY) and Congressman Elijah Cummings (D-MD) are leading the effort in Congress to convince the Obama administration and Federal Reserve to reverse course and continue several key programs due to soon expire or change that are critical to keeping mortgage rates low and making homeownership more attainable.
Schumer, Gillibrand, Nadler Seek HUD Mortgage Assistance To Help Keep St. Vincent’s Doors Open
February 1, 2010 Posted by New York RealEstateRama
New York, NY - February 1, 2010 - (RealEstateRama) — With St. Vincent’s Hospital on the brink of bankruptcy, U.S. Senators Chuck Schumer and Kirsten Gillibrand and Congressman Jerrold Nadler (D-Manhattan) urged the U.S. Department of Housing and Urban Development (HUD) to help the only Level-1 trauma center serving neighborhoods from Midtown to Downtown stave off closure.
FHA and Ginnie Mae take action against TopDot Mortgage
January 29, 2010 Posted by HUD
WASHINGTON, DC - January 25, 2010 - (RealEstateRama) — The Federal Housing Administration’s Mortgagee Review Board (MRB) today immediately and permanently withdrew the FHA approval of Premium Capital Funding, LLC, a Jericho, New York-based lender doing business as TopDot Mortgage.
Manhattan Real Estate Developer Sentenced to Four Years in Prison for $27 Million Mortgage Fraud and Ponzi Scheme
January 29, 2010 Posted by New York RealEstateRama
New York, NY - January 28, 2010 - (RealEstateRama) — PREET BHARARA, the United States Attorney for the Southern District of New York, announced that Manhattan real estate developer MICHAEL HERSHKOWITZ was sentenced today to four years in prison for his participation in a $27 million Ponzi scheme involving fraudulent loans secured by nonexistent mortgages.
State of New York Mortgage Agency Approves $37.5 million Insurance
January 29, 2010 Posted by New York RealEstateRama
NEW YORK, NY - January 28, 2010 - (RealEstateRama) — The board of the State of New York Mortgage Agency (SONYMA) today approved a commitment to insure a $37.5 million mortgage on a 144-unit apartment building in Brooklyn that was originally built to be sold as condominium units.
Suffolk County Executive Steve Levy Plans Prompt Disbursement of Mortgage Taxes to Towns and Villages
December 16, 2009 Posted by New York RealEstateRama
Hauppauge , NY - December 15, 2009 - (RealEstateRama) — Suffolk County Executive Steve Levy today will file a resolution via Certificate of Necessity seeking immediate passage of a measure to provide Suffolk’s towns and villages with more than $26 million of mortgage tax revenues.
Appraisal Business Owner Indicted in Mortgage Fraud Scheme
December 15, 2009 Posted by New York RealEstateRama
ALBANY, NY - December 14, 2009 - (RealEstateRama) — Andrew T. Baxter, United States Attorney, Rene Febles, Special Agent in Charge, United States Department of Housing and Urban Development,
Governor Paterson Announces Federal Homebuyer Tax Credit Cash Advances For Eligible SONYMA Borrowers
December 15, 2009 Posted by Governor David A. Paterson
Albany, NY - December 15, 2009 - (RealEstateRama) — Governor David A. Paterson today announced that New York State will offer cash advances of up to $8,000 on the Federal homebuyer tax credit for borrowers using a State of New York Mortgage Agency (SONYMA) mortgage to purchase a home.
Manhattan U.S. Attorney Charges President of Mortgage Brokerage Firm in $23 Million Fraud Scheme
December 10, 2009 Posted by New York RealEstateRama
New York, NY - December 10, 2009 - (RealEstateRama) — PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (”FBI”), and RICHARD H. NEIMAN,
HDC’s Board Approves $43M in Taxable Multi-Family Mortgage Revenue Bonds & Cooperative Housing Mortgage Revenue Bonds
December 5, 2009 Posted by NYCHDC
NEW YORK, NY - December 3, 2009 - (RealEstateRama) — The New York City Housing Development Corporation (HDC) Board of Directors voted today to approve $43 million in taxable Multi-Family Mortgage Revenue Bonds and Cooperative Housing Mortgage Revenue Bonds for the new construction of Via Verde Apartments and Via Verde Cooperative Apartments, located in the Bronx.
Former Real Estate Investment Company Owner Pleads Guilty to Laundering Proceeds of Mortgage Fraud
November 19, 2009 Posted by New York RealEstateRama
ALBANY, NY - November 19, 2009 - (RealEstateRama) — Andrew T. Baxter, United States Attorney, Patricia J. Haynes, Special Agent in Charge, Internal Revenue Service, Criminal Investigation Division (New York Field Office), John F. Pikus, Special Agent in Charge, Albany Division of the Federal Bureau of Investigation, and Robert Bethel, Inspector in Charge, United States Postal Inspection Service, announce that KEVIN M. O’CONNELL, age 35, of Albany,
The United States Files Civil Suit To Enjoin Fraud In Government Insured Mortgage Loans
October 20, 2009 Posted by New York RealEstateRama
Brooklyn, NY - October 20, 2009 - (RealEstateRama) — A civil complaint was filed today in federal court in Central Islip against Ideal Mortgage Bankers, Ltd. d/b/a/ Lend America, a mortgage lender located in Melville, Long Island, seeking a court-ordered injunction to prevent the company from making loans insured by the Federal Housing Administration (“FHA”). The complaint also seeks relief against Lend America’s Executive Vice President and Chief Business Strategist, Michael Ashley. The case has been assigned to United States District Judge Joseph F. Bianco.
Six Individuals Charged in Multi-Million Dollar Mortgage Scheme Against Flaherty Funding
October 17, 2009 Posted by New York RealEstateRama
ROCHESTER, NY - October 15, 2009 - (RealEstateRama) — U.S. Attorney Kathleen M. Mehltretter of the Western District of New York announced that six individuals located in the New York City area were charged yesterday in a criminal complaint with defrauding Flaherty Funding
