MERSCORP Holdings, Inc. today announced that the U. S. District Court for the Southern District of Ohio rejected a claim against Mortgage Electronic Registration Systems, Inc. (MERS) under the Racketeer Influence and Corrupt Organizations Act (RICO), finding the MERS assignment valid and granting summary judgment to MERS.
Congressman Tim Ryan today introduced legislation to help hardworking Americans pay down their mortgages. The Building Equity for the American Middle-Class Act (BEAM Act) would create a 50% refundable tax credit on additional principal payments individuals make to their monthly required payment, up to $1000.
In her opening remarks at today’s Financial Services Housing and Insurance Subcommittee hearing on the Truth In Lending Act and the Real Estate Settlement Procedures Act (TILA-RESPA), U.S. Congresswoman Joyce Beatty (OH-03) detailed the importance of ensuring a seamless transition to an updated closing process, as mandated under Dodd-Frank. Serving as the subcommittee’s Ranking Member for the day, Beatty spoke about the Consumer Financial Protection Bureau’s (CFPB) merging TILA-RESPA
U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following opening statement, as prepared for delivery, at today’s hearing on mortgage credit availabilit
The Ohio Housing Finance Agency (OHFA) joins the nation in observing April as Fair Housing Month. "Every American deserves a fair chance to secure safe and stable housing," Housing and Urban Development (HUD) Secretary Julián Castro said in a news release. "At the core of everything we do to improve housing opportunities is a firm belief that no family should ever be denied the opportunity to own or rent a home because of what they look like, where they come from, how they get around, how they speak, who they love and other circumstances of life."
The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) is pleased to announce that the Ohio Division of Financial Institutions (the Division) has received a certificate of accreditation for mortgage supervision. This accreditation certifies that the Division maintains the highest standards and practices in mortgage supervision set by the AARMR/CSBS Mortgage Accreditation Program.
Brown Helps Pass Provision That Will Prevent Struggling Homeowners Who Modified Mortgages Or Completed...
WASHINGTON, D.C. - April 7, 2014 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) today helped pass provisions of the Mortgage Forgiveness Tax Relief Act, legislation aimed at relieving homeowners of the requirement to pay taxes on mortgage debt forgiveness resulting from mortgage modifications, or short sales. The provision was included in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which passed the Senate Finance Committee today.
DELAWARE, Ohio - February 20, 2014 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced a lawsuit against Home Remedy Center of Newport Beach, California, for failure to deliver and failure to provide refunds for its home loan modification service. Attorney General DeWine seeks consumer restitution, injunctive relief, and civil penalties
TOLEDO, OH - January 10, 2013 - (RealEstateRama) -- Today, with more than 33 percent of Lucas County mortgages underwater, U.S. Sen. Sherrod Brown (D-OH) called for immediate Congressional action to reverse a tax increase imposed on struggling homeowners that began January 1. Before the New Year, Senate Republicans refused to take up and pass legislation that would have relieved, for one year, the requirement for homeowners to pay taxes on mortgage debt forgiveness resulting from mortgage modifications, or short sales.
With More than One-Quarter of Cuyahoga County Mortgages Underwater, Brown Urges Reinstatement of Provision...
CLEVELAND, OH - January 7, 2013 - (RealEstateRama) -- Today, with more than one-quarter of Cuyahoga County mortgages underwater, U.S. Sen. Sherrod Brown (D-OH) called for immediate Congressional action to reverse a tax increase imposed on struggling homeowners that began January 1. Before the New Year, Senate Republicans refused to take up and pass legislation that would have relieved, for one year, the requirement for homeowners to pay taxes on mortgage debt forgiveness resulting from mortgage modifications, or short sales. Unless the plan Brown supports is passed, principal reductions that homeowners receive on their loans through mortgage modifications or short sales will be treated as income by the Internal Revenue Service (IRS)—sticking already struggling homeowners with tax bills that they may be unable to afford.
COLUMBUS, Ohio - December 20, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced that Ohio is part of the $2.1 billion multi-state settlement with the nation’s fourth largest mortgage servicer, Ocwen Financial Corporation of Atlanta, Georgia, and its subsidiary, Ocwen Loan Servicing. The settlement was agreed to by 49 states, the District of Columbia, and the Consumer Finance Protection Bureau (CFPB)
COLUMBUS, Ohio - December 20, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today joined Attorneys General from 41 States and Territories in urging Congress to once again pass legislation extending tax relief for distressed homeowners who receive relief from the National Mortgage Settlement. The request was made in a letter sent to House Speaker John Boehner, Senate Majority Leader Harry Reid, and other leaders of the House and Senate.
Attorney General DeWine Announces Second Quarter Update on National Mortgage Settlement; Ohioans Received $383...
COLUMBUS, OH - August 22, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine announced that today's release of monitor's data shows more than 10,000 Ohioans have received more than $383 million in consumer relief from the National Mortgage Settlement since it was announced last year
COLUMBUS - August 22, 2013 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) today announced it has received approval from the U.S. Department of the Treasury to utilize up to $60 million of remaining Hardest Hit Funds (HHF) to assist with stabilizing local property values through the demolition of vacant homes across the state
WASHINGTON, D.C. - June 10, 2013 - (RealEstateRama) -- Congressman Bob Latta (R-Bowling Green) led a letter, signed by members from the Ohio delegation, to the Consumer Financial Protection Bureau (CFPB) regarding the definition of "rural" counties as it applies to qualified mortgages under the Ability-to-Repay (ATR) rule.
COLUMBUS, OH - June 4, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced that eligible Ohioans who lost their homes to foreclosure will be sent settlement payments by June 17th. The payment checks will be worth approximately $1,480 for each loan serviced and will be mailed between June 10th and June 17th
TOLEDO, OH - May 7, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced a lawsuit against N.M.M.S.R. Incorporated, doing business as Making Home Affordable USA, and its owner Jason Keating of Maumee. The lawsuit charges Keating and his business with multiple violations of Ohio’s consumer laws.
COLUMBUS - April 18, 2013 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) has been awarded $1,074,039 through the National Foreclosure Mitigation Counseling (NFMC) program to continue supporting the availability of foreclosure counseling and prevention services across the state. The grant will enable 18 housing counseling agencies across the state to continue to assist Ohio homeowners at-risk of foreclosure.
WASHINGTON, D.C. - March 13, 2013 - (RealEstateRama) -- With nearly 25 percent of Ohio homeowners underwater on their mortgages, U.S. Sen. Sherrod Brown (D-OH) unveiled a plan to improve the housing market by addressing “short sale” transactions. Short sales are real estate transactions that must be approved by the bank because the seller owes more on his/her mortgage than the proposed sale price. Brown’s bipartisan legislation
AKRON, OH - February 28, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced the convictions of four people who took part in a mortgage fraud scheme in Summit and Stark counties.