#community redevelopment act

[mfi-miami]

New Wells Fargo Investigation Focuses On Bank Defrauding Taxpayers

New Wells Fargo Investigation Focuses On Bank Defrauding Taxpayers

A New Wells Fargo Investigation Focuses On The Bank Committing Low-Income Housing Tax Credit Fraud

A new Wells Fargo investigation is underway by the USDOJ in Miami. The DOJ has convened a grand jury.

The DOJ is accusing Wells Fargo of colluding with affordable housing developers nationwide. The scheme involved driving down the prices of low-income tax credits. Wells Fargo potentially defrauding…

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[mfi-miami]

Westchester Residential Opportunities Busted For Illegal Solicitations

Westchester Residential Opportunities Busted For Illegal Solicitations

New York Non-Profit Westchester Residential Opportunities Busted Poaching Clients From Attorneys Westchester Residential Opportunities busted attempting to unethically poach clients from law firms.

White Plains-based housing non-profit Westchester Residential Opportunities is in hot water. WRO is being accused of illegally poaching clients by multiple lawyers.

New York foreclosure defense lawyers…

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[mfi-miami]

Flagstar Bank And Their Zero-Down Financing

Is Flagstar Bank Playing Low-Income Borrowers For Chumps? You could find yourself trapped in the 100 Percent financing program by Flagstar Bank

Michigan based Flagstar Bank has the Internet abuzz about their plan to bring back zero-down mortgages.

There are plenty of details on this program that Zero Hedge and Housing Wire left out of their articles.

Flagstar Bank is also throwing in money…

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[mfi-miami]

A New York Bankruptcy Does NOT Stop A Foreclosure!

A New York Bankruptcy Does NOT Stop A Foreclosure!

A New York Bankruptcy Does NOT Stop A New York Foreclosure!

You could find yourself hiring a foreclosure attorney after wasting thousands of dollars on a New York bankruptcy lawyer. You could also find yourself with both a foreclosure and a bankruptcy on your credit report.

Most New York bankruptcy lawyers also won’t explain to you that a bankruptcy stains your credit report for ten years.

A…

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[thepoliticalcommentator]

Forget FICO Scores? 'Homeownership is an integral part of the American Dream'!

Forget FICO Scores? ‘Homeownership is an integral part of the American Dream’!

Hmmmm…Where and when have I heard the phrase “Home ownership is an integral part of the American Dream?” before? Was it in statements concerning the Community Redevelopment Act (CRA)* and that period in American history leading up to the great financial crisis of 2008? A time in residential real estate when basically anyone with a pulse could be approved for a mortgage! A time when…

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[thepoliticalcommentator]

FHA Reduces Risk To Institutions Lending To Low FICO Score Borrowers

FHA Reduces Risk To Institutions Lending To Low FICO Score Borrowers

The Federal Housing Administration (FHA) is tweaking its single-family Neighborhood Watch System! In what appears to this untrained eye to be a move back towards some of the excesses that brought the financial crisis on in the first place, FHA is adjusting its Neighborhood Watch System in an attempt to spark more mortgage lending to borrowers with lower FICO scores. Looking back at recent…

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