Compliance NewsHub
Legal News

Mortgage Professional America--Ryan Smith

Christopher D. Hales was jailed in 2011 for mortgage fraud and was released in 2018 to a halfway house as per his sentence where he started another scam including wire fraud and money laundering conspiracy.

The FRS has issued an enforcement action with M&T Bank for violations of National Flood Insurance Program requirements, including a $546,000 penalty.

Associated Press (AP)

Ocwen Financial Corporation issued a statement following its settlement of a lawsuit originally filed in 2017 by the Florida Office of Attorney General.

The CFPB has settled with a lawsuit with a group of debt collectors and debt buyers, on allegations that they have violated the terms of a 2015 consent order and again violated the FDCPA and CFPA in their debt-collection practices.

The CDC, HHS, HUD, and DOJ released late last week frequently asked questions about the CDC Eviction Order, clarifying explicitly that eviction does not include foreclosure on a home mortgage.

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

Mortgage Fraud Blog – Rachel Dollar

46-year-old Joseph A. Gonzalez of Nevada pleads guilty for his part in a scheme to use false information and simultaneous loan application at various banks to obtain home equity lines of credit (HELOCs).

Mortgage Professional Magazine - Ryan Smith

A South Carolina couple has been sentenced to prison for targeting underwater homeowners and buyers with less than perfect credit with a faith-based scam, promising various scenes of mortgage relief and solutions that resulted in over $2 million in loss to the victims and impacted approximately 130 properties.

Housing Wires – Alex Roha

The Federal Reserve Board enforces action against Citigroup after an evaluation found the bank had several “longstanding” deficiencies in risk management and internal controls.

Mortgage Fraud Blog--Rachel Dollar

Dana Q. Roush and her husband Michael “Bubba” Roush of Greenville, South Carolina were sentenced to seventeen years in federal prison and will be required to reimburse over $2.5 million after being found guilty of conspiracy to commit mail fraud and equity skimming.

Housing Wire – Julia Falcon

Opendoor filing to go public revealed that they are under investigation by the Federal Trade Commission over advertising practices.

MBA Newslink--Mike Sorohan

The MBA has recommended that the FHFA should continue to move toward freeing Fannie Mae and Freddie Mac from federal conservatorship as long as it can be done without risk to the real estate financial markets.

Mortgage Fraud Blog-Rachel Dollar

A South Carolina couple has been sentenced to seventeen years in federal prison and fined $2.5 million in restitution for their using their LLC company to commit mail fraud and facilitate equity skimming.