Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A, with Nationwide Mortgage news from my friend Herman Thordsen from www.lendinglaw.com.
Herman tells me that there’s quite a bit of news this week as mortgage fraud indictments increase, especially in California. Here’s an overview of what’s in the new report:
1. California enacts SB 1069-no deficiency judgment on a refinance of purchase money loan except as to new money advanced above the amount refinanced.
2. California corporations that fail to keep up franchise taxes or registration statements can be suspended and once suspended cannot file a lawsuit and more importantly cannot defend against a lawsuit.
3. Owner of Pasadena, California Mortgage company and two siblings from Las Vegas, Nevada sentenced for mortgage fraud. The owner gets nine years.
4. Granite Bay, California man charged with mortgage fraud.
5. Murrieta, California couple sentence for mortgage fraud.
6. Ramona, California real estate agent that pled guilty and scheduled to be sentenced in December 2012 still active in real estate.
7. Seven indicted in Sacramento for mortgage fraud.
8. Nine more indicted in Sacramento for mortgage fraud.
9. Sacramento bank executive convicted of mortgage fraud after a retrial. That makes seven for seven in this case. ONE IS CONVICTED FOR RESPA VIOLATION.
10. California Attorney General indicts four for mortgage fraud out of Grass Valley.
11. Massachusetts real estate attorney convicted of mortgage fraud.
12. Total of 51 indicted for mortgage fraud in North Carolina.
13. Washington State holds MERS cannot foreclose and Oregon may soon follow.
14. Tacoma, Washington-ex vice president of Pierce Commercial Bank plead guilty to mortgage fraud.
For the full report click here
That’s it for now! Make it another great day!
Your Hard Money Lender in Tucson and Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation. Please give me a call at:
(520) 299-4878!
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