U.S. District Judge James K. Bredar sentenced Michael Gerard Camphor, age 60, of Baltimore, to 27 months in prison, followed by three years of supervised release on charges arising from the fraudulent purchase of four properties in Baltimore, using fraudulent loan documentation and straw purchasers, resulting in losses of over $735,000. At the sentencing on February 28, 2016, Judge Bredar also ordered Camphor to pay restitution of $735,363.47 and to forfeit $962,274.95
Maryland Office of the Commissioner of Financial Regulation Receives Accreditation of Mortgage Supervision Program
The Maryland Office of the Commissioner of Financial Regulation (the Office or OCFR), The Conference of State Bank Supervisors (CSBS), and the American Association of Residential Mortgage Regulators (AARMR) announced today that the OCFR has received CSBS/AARMR Mortgage Accreditation. This accreditation certifies that the Office maintains the highest standards in mortgage supervision. Gordon Cooley has been serving the State of Maryland as the Commissioner of the Office of Financial Regulation for two years
MERSCORP Holdings, Inc. today announced that the United States District Court for the District of Maryland granted Mortgage Electronic Registration Systems, Inc’s (“MERS”) motion to dismiss a complaint that the court noted was “difficult to decipher” and a “variation on a form complaint circulated on the internet.”
Governor Larry Hogan announced today that for the first time since the creation of the Maryland Mortgage Program (MMP) in 1977, the state finished a fiscal year helping families obtain a home in all 24 of the state’s jurisdictions
Hunt Mortgage Group Finances the Acquisition of a Multifamily Property Located in Riverdale, Maryland
Hunt Mortgage Group, a commercial real estate lender, announced today that it has provided a $6.4 million Fannie Mae loan facility to finance the acquisition of a multifamily property located in Riverdale, Maryland.
Cardin Calls for Investigation, Action to Address Mortgage Industry Housing Discrimination in Minority Communities
U.S. Senator Ben Cardin (D-Md.) along with a group of 13 senators have written a letter to federal housing, finance, and consumer protection regulators, calling for an investigation into potential violations of the Fair Housing Act by banks and lenders neglecting the maintenance of foreclosed homes in minority communities in favor of predominantly white communities.
Congressman John K. Delaney (MD-6), Congressman John Carney (DE-At Large) and Congressman Jim Himes (CT-4) have introduced legislation designed to protect the fixed-rate 30-year mortgage – a key instrument to ensure home affordability for the middle class – and shield American taxpayers from future bailouts by reforming the housing finance system.
Groundbreaking Mortgage Initiative for Homebuyers in Prince George’s County Fully Utilized in less than...
DHCD announced today that the funds set aside to provide down payment assistance under the Maryland Mortgage Program Triple Play Initiative in Prince George’s County have been utilized.
Acting Secretary Clarence Snuggs, Prince George’s County Executive Rushern Baker III and Attorney General Douglas F. Gansler today announced the launch of the Maryland Mortgage Program TriplePlay Initiative in Prince George’s County for potential homebuyers
Attorney General Douglas F. Gansler announced today that multiple governmental entities and pension programs (Maryland and local governments) will share an estimated $75 million settlement secured by his Securities Division from Bank of America (BOA) and its subsequent acquisitions, Merrill Lynch and Countrywide Financial Corporation. Maryland, joined by five other states and multiple federal agencies, reached a $16.65 billion settlement that resolves allegations against the banking and securities giant for unlawfully packaging, marketing, issuing and selling residential mortgage backed securities (RMBS) that contained toxic mortgages
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
The Maryland Department of Housing and Community Development announced new initiatives for Maryland Mortgage Program that will make homeownership more affordable – and more accessible - to borrowers who are veterans or active-duty military members.
WASHINGTON, D.C. - March 17, 2014 - (RealEstateRama) -- In an editorial published in today, the Washington Post highlighted the Delaney-Carney-Himes proposal as a potential solution to the question of housing finance reform.
Baltimore, MD - December 20, 2013 - (RealEstateRama) -- Today, Congressman Elijah E. Cummings (MD-07) was joined by Governor Martin O’Malley, and Congressmembers Steny Hoyer, Chris Van Hollen, C.A. Dutch Ruppersberger, Donna Edwards, John Sarbanes, and John Delaney on a letter to the leadership of the House Ways and Means Committee and the Senate Finance Committee expressing support for the Mortgage Forgiveness Tax Relief Act (S.1187; H.R.2788; H.R.2994). These bills would extend protections set to expire on January 1 that enable homeowners to negotiate a resolution with their lenders on their underwater mortgage loans without the threat of a large tax bill.
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