Tag Archive: fraud

REO Fraud: A Study In How NOT to Flip an REO

So I have been playing around with a new feature added to Property Shark: Deep Owner Search.  You can type in a person’s name, a corporation name or an address and see what properties are associated with that information.  From there, you can also search that person’s associates and so forth. Since I have practiced [...]

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Don’t Believe the Hype: FHA’s Temporary Waiver of 90 Seasoning Rule

On Friday, January 15, 2010, HUD Secretary Shaun Donovan issued a  press release, as part of HUD’s Neighborhood Stabilization initiative, temporarily waiving FHA’s 90 Day Seasoning Rule.  Amazingly, HUD is cognizant that the seasoning guideline is having a negative impact on alleviating the problem of abandoned and blighted homes:
“In today’s market, FHA research finds that [...]

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Real Estate Law Update: New York State Decisions of Interest

JOHNSON v. MELNIKOFF, 2008-08857 [2d Dept 8-4-2009] 2008-08857
Decided on August 4, 2009.
In an action, inter alia, pursuant to RPAPL article 15 to
determine title to real property, the defendant Bank of New York Trust Company,
N.A., appeals, as limited by its notice of appeal and brief, from so much of an
order of the Supreme Court, Kings County [...]

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Foreclosure Defense Bar: Heads Up! Forensic Exam of TBW Mortgage Corp Loan Docs Could Be Fruitful

Those engaged in foreclosure defense should take a closer look at loans originated by TBW  when structuring their defense strategy…
Florida Company Reaches Multi-state Agreement Over Non-traditional Loans
Carrie Bay | 06.25.09

Taylor Bean & Whitaker Mortgage Corp. (TBW), a wholesale lender based in Ocala, Florida, has agreed to pay 13 states and the District of Columbia [...]

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DON’T SAY I DIDN’T WARN YOU! NY Attorney General’s Crackdown on the Loan Modification Industry

This investigation comes as no surprise – I have been speaking with clients and those who wanted to jump on the loan mod bandwagon about the New York Foreclosure and Lender Responsibility Act of 2008 and its effect on them, but often to deaf ears.  Most people weren’t even aware of the Act or just [...]

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