A federal grand jury returned an indictment late yesterday against Rene de Jesus de Leon, age 47, and his wife, Pedrina Rodriguez Bonilla, age 37, both of Silver Spring, Maryland, and Ana Maritza Gomez, age 43, of Hyattsville, Maryland, on charges arising from a residential mortgage fraud scheme
Attorney General Douglas F. Gansler today announced that his Consumer Protection Division filed lawsuits against two law firms for allegedly operating illegal loan modification schemes that charge consumers large upfront fees, but often do not help them avoid foreclosure or modify their loans. The lawsuits are part of a joint federal-state sweep by the Consumer Financial Protection Bureau, the Federal Trade Commission and 15 states targeting over 30 firms and programs that prey on struggling homeowners or those facing foreclosure
Cardin Visits Southern Maryland for Solutions to Maryland’s Foreclosure Crisis Maryland currently has the...
U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee, convened a gathering of local housing officials, REALTORS and others working to assist Marylanders before and during the foreclosure process. Maryland weathered the national foreclosure crisis by giving homeowners more time to develop strategies to keep their homes, but we currently have the second-highest foreclosure rate in the nation, according to RealtyTrac.
AG Gansler Recovers Additional $88 Million for Distressed Maryland Homeowners Victimized by Ocwen Mortgage...
Baltimore, MD - December 19, 2013 - (RealEstateRama) -- Attorney General Douglas F. Gansler, joined by 49 other state and territorial attorneys general and the Consumer Financial Protection Bureau (CFPB), today announced a $2.1 billion joint state-federal settlement with Ocwen Financial Corp., and its subsidiary, Ocwen Loan Servicing. Maryland is projected to receive $85.7 million for first lien principal reductions for distressed borrowers and an additional payment, projected to exceed $1,000 each, for eligible Maryland borrowers whose homes have been foreclosed
House Passes Cummings Amendment to Help Protect Servicemembers, Veterans, and Their Families from Foreclosure
Washington, DC - June 17, 2013 - (RealEstateRama) -- Today, the House passed the National Defense Authorization Act with an amendment introduced by Rep. Elijah E. Cummings, the top Democrat on the Committee on Oversight and Government Reform, that significantly expands home foreclosure protections for servicemembers, veterans with disabilities, and their families under the Servicemembers Civil Relief Act (SCRA).
AG Gansler’s Mortgage Servicing Settlement Exceeds $1.3 Billion in Direct Relief; Checks to Eligible...
Baltimore, MD - May 21, 2013 - (RealEstateRama) -- Attorney General Douglas F. Gansler announced today that 16,627 Maryland families have received more than $1.3 billion in relief from the National Mortgage Settlement during the period of March 1, 2012 through March 31, 2013. This represents approximately $400 million more in relief and assistance for distressed homeowners than was originally estimated. This latest report does not include the one-time, no-strings-attached cash payments to eligible borrowers who lost their homes to foreclosure. Eligible Marylanders should begin receiving checks next month; they are expected to exceed the $840 minimum, although an exact amount is not yet known
WASHINGTON, D.C. - May 8, 2013 - (RealEstateRama) -- Today, Reps. Elijah E Cummings, Mike Michaud, Adam Smith, Susan Davis, Mark Takano, and John Tierney, the Ranking Members of the Committee on Oversight and Government Reform, the Committee on Veterans’ Affairs, the Committee on Armed Services, the Subcommittee on Military Personnel, the Subcommittee on Economic Opportunity, and the Subcommittee on National Security, introduced H.R. 1842, the Military Family Home Protection Act, to strengthen foreclosure protections for U.S. military servicemembers and their families.
New CBO Report Concludes that Principal Reduction Programs Benefit U.S. Taxpayers, Homeowners, and the...
Washington, DC - May 2, 2013 - (RealEstateRama) -- Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, released a new report from the nonpartisan Congressional Budget Office (CBO) concluding that implementing principal reduction programs for underwater mortgages backed by Fannie Mae and Freddie Mac could save U.S. taxpayers billions of dollars by avoiding unnecessary defaults, help homeowners avoid foreclosures and remain in their homes, and stimulate some additional growth across the economy
Cummings Introduces Bill to Create “Independent Monitor” to Oversee Settlement for Illegal Foreclosures and...
Washington, D.C. - April 25, 2013 - (RealEstateRama) -- Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, announced the introduction of H.R. 1706, The Mortgage Settlement Monitoring Act of 2013, to create an Independent Monitor to oversee the distribution of funds paid by mortgage servicers for illegal foreclosures and other abuses against homeowners under their settlement agreement with federal regulators.
Washington, DC - April 11, 2013 - (RealEstateRama) -- Today, Senator Elizabeth Warren, Member of the Senate Committee on Banking, Housing and Urban Affairs, and Rep. Elijah E. Cummings, as the top Democrat on the House Committee on Oversight and Government Reform, sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry challenging the decision by agency staff not to provide any documents in response to a request from the Members of Congress seeking documents relating to violations of federal and state law by mortgage servicing companies.
Washington, DC - April 11, 2013 - (RealEstateRama) -- Today, Senator Elizabeth Warren, Member of the Senate Committee on Banking, Housing and Urban Affairs, and Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry challenging the decision by agency staff not to provide any documents in response to a request from the Members of Congress seeking documents relating to violations of federal and state law by mortgage servicing companies
Washington, D.C. - March 25, 2013 - (RealEstateRama) -- Today, Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) sent a letterto Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry accepting their proposal for a meeting to discuss the requests Warren and Cummings have made for documents relating to mortgage servicer abuses identified as part of the Independent Foreclosure Review.
Rep. Cummings, Sen. Warren Launch Joint Investigation of Settlement Ending Independent Foreclosure Review Process
Washington, D.C. - January 31, 2013 - (RealEstateRama) -- Today, Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry seeking documents relating to their recent settlement with mortgage servicers that ended the Independent Foreclosure Review (IFR) process.
Baltimore, MD - September 18, 2012 - (RealEstateRama) -- Maryland Attorney General Douglas F. Gansler is advising families who may be eligible for cash payments under Maryland's nearly $1 billion Mortgage Servicing Settlement to check the mail in the coming weeks for important information that will enable borrowers to receive assistance. Postcards will be arriving this week, and letters and claim forms will be sent within a month, to families who lost their homes to foreclosure between January 1, 2008 and December 31, 2011 and whose loans were serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.
WASHINGTON, DC - August 8, 2012 - (RealEstateRama) -- Today the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) are hosting the Obama administration’s 75th free event for struggling homeowners at the Show Place Arena in Prince George’s County, Maryland. Since June 2009, the administration has sponsored free events in 51 cities across the country to help struggling homeowners connect face-to-face with their mortgage company and a HUD-approved housing counselor to discuss options to avoid foreclosure.