Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million

The founder and president of a defunct Massachusetts mortgage company pleaded guilty this week to defrauding Ginnie Mae out of approximately $2.5 million. According to the U.S. Attorney’s Office.

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Massachusetts mortgage company founder jailed for defrauding. – The founder and president of a defunct Massachusetts mortgage company will. founder jailed for defrauding Ginnie Mae out of $2.5 million.

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of .5 million The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million.

fixed-rate jumbo residential mortgage loans secured primarily by one-to-two-family residences to prime borrowers. The pool of mortgages is split into two groups. group 1 has a closing pool balance of.

One of the board members of a failed bank will spend a five years in jail after being convicted of defrauding the government’s Troubled Asset Relief Program out of nearly $7 million. According to the.

Moody’s: Ocwen’s servicer ratings no longer on verge of downgrade Japan had its credit rating downgraded yesterday as it became the latest developed economy to fall foul of ballooning debts. ratings agency moody’s cut the world’s third biggest economy by one.

But in the fourth quarter, Altisource reported a net loss of $1.5 million, compared to net income of $35.5 million in the same time period in 2013. The company. out consideration of up to an.

. has played a pivotal role in the mortgage industry recovery, thus our objective is to broaden its impact by enabling lenders regardless of size access to these key fannie mae benefits,” John.

FDIC wants in on JPMorgan settlement, bogs down talks THIS MORNING ON POLITICO PRO FINANCE – Jon Prior on how the government is already preparing for the big job ahead if Congress abolishes Fannie and Freddie.. The latest on JPMorgan’s “London Whale”.CMBS Delinquency Rate Triples From a Year Ago, Passes 7%: Realpoint McBride notes that rate would be even lower if the total did not include the $3 billion loan on Stuyvesant Town, a large apartment complex in New York. That loan has been in default for three years. Retail has improved from a delinquency rate of 8.03% a year ago to 7.02% in July 2013, and office improved from 10.69% to 9.51%.

Financial Institution/Mortgage fraud news. mortgage company president sentenced for Defrauding Ginnie Mae.. New Jersey, received 144 months in prison for defrauding banks out of $1.1 million.

Report: Alt-A Delinquency Rate Nearing 18 Percent  · the title to this thread is not true.lets not throw gas on an already burning fire quote from the link. "There is no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company," the statement said.

Citing the company’s operational history, infrastructure and management as strengths, Fitch Ratings assigned residential mortgage servicer ratings to. and 365 other loans totaling .2 million.

RS Edge - Ginnie Mae FHA vs VA Analysis Former bank president facing life in jail for bank fraud, real estate fraud – Doughty was also found guilty for his involvement in two other schemes: a series of "senior life settlement loans" from FSB to support an Altus aerospace company; and a $2 million unauthorized loan.

The settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide $400 million in consumer relief for New York.