New York Court of Appeals Decision Siding With FNMA Could Have A Major Impact On Upcoming Legislation Six Judges on the New York Court of Appeals have ruled in favor of Fannie Mae in a foreclosure case. The ruling could have an impact on legislation awaiting New York Gov. Kathy Hochul’s signature. The court ruled that
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New Jersey Lawyer Fausto Simoes And Real Estate Developer Victor Santos Admit To Mortgage Fraud A New Jersey lawyer and a real estate developer each admitted to running a $3.5 million mortgage fraud scheme. The scheme led to over $3.5 million in losses for Fannie Mae. Victor Santos of Watchung, New Jersey and Fausto Simoes
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Fannie Mae Predicts Dark Days Ahead For The Housing Market Fannie Mae predicts things will get worse for the housing market and mortgage industry before it gets better. A group of economists at Fannie Mae slashed their forecast for 2022 home sales this week. Fannie Mae’s Economic and Strategic Research Group expects total home sales to
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Two New York Mortgage Fraudsters Plead Guilty To Running A Mortgage Fraud Scheme In Connecticut Two New York Mortgage Fraudsters pleaded guilty Tuesday for operating a wide-ranging mortgage fraud scheme. The scheme involved 24 mortgage loans on numerous multifamily housing properties in Hartford, Connecticut. The New York mortgage fraudsters scammed nearly $50 million from different
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Desperate Fannie And Freddie Are Accepting On-Time Rent As Credit In New Underwriting Guidelines Fannie Mae and Freddie Mac are expecting to see a drop in revenue with the pending recession. As a result, a desperate Fannie and Freddie are resorting to a new tactic to get people qualified for mortgages. The GSEs are using
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