Attorney General DeWine Announces Mortgage Fraud Convictions

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.

Attorney General DeWine Says Monitor’s Report Shows Ohioans Have Received $280 Million in Relief...

COLUMBUS, OH - February 21, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine announced that today's release of a monitor's report shows that more than 7,000 Ohioans have received more than $280 million in consumer relief from the National Mortgage Settlement announced one year ago.

State of Ohio Expands Eligibility and Benefits for the Foreclosure Prevention Program

COLUMBUS, OH - February 1, 2013 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) today announced expansions to the State of Ohio's foreclosure prevention program, Save the Dream Ohio. Effective February 1, the enhancements to the program and eligibility requirements are intended to aid OHFA in assisting more homeowners struggling to make their mortgage payments.

Attorney General DeWine Announces $120 Million Multi-State Settlement with Lender Processing Services, Inc.

COLUMBUS, OH - January 31, 2013 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced that he and 45 other Attorneys General have reached a $120 million multi-state settlement with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DocX, resolving allegations that the Jacksonville-based company "robo-signed" documents and engaged in other improper conduct related to mortgage loan default servicing

Hilliard Couple Pleads Guilty in $7 Million Mortgage Fraud Scheme

OLUMBUS, OH - January 22, 2012 - (RealEstateRama) -- Deborah L. Kistner, 50, and her husband, Mark A. Kistner, 52, both of Hilliard, pleaded guilty three days after their trial started to a $7 million mortgage fraud scheme they carried out between June 2006 and July 2010

Brown Reveals How Northwest Ohioans Will Be Affected By Deal Requiring Banks To Pay...

TOLEDO, OH - January 18, 2012 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) revealed how Ohioans will be affected by this month’s deal requiring banks to pay $8.5 billion to homeowners who were hurt by the mortgage crisis. Brown was joined at Advocates for Basic Legal Equality, Inc. (ABLE) by Belinda Brooks, a Northwest Ohio homeowner whose home was in foreclosure because of errors made by her mortgage servicer. Kathy Broka, president and CEO of the Fair Housing Center, a Toledo homeowner advocacy and counseling organization, also attended today’s event.

Attorney General DeWine Reminds Ohioans of January 18 National Mortgage Settlement Claim Deadline

COLUMBUS, OH - January 17, 2012 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today reminded eligible Ohioans that January 18th is the deadline to submit claims for compensation to the National Mortgage Settlement Administrator. Pursuant to the National Mortgage Settlement announced in February 2012, eligible borrowers who lost a home to a foreclosure sale would be eligible for direct compensation.

Dublin Man Pleads Guilty in Mortgage Fraud Scheme

COLUMBUS - January 17, 2012 - (RealEstateRama) -- Gordon L. Yocom, 44, of Dublin, Ohio, pleaded guilty to conspiracy to commit money laundering for fraudulently obtaining a mortgage loan to finance the purchase of a real estate property in Powell, Ohio. Yocom agreed to forfeit $119,000, which represented the proceeds of this transaction.

Brown Reveals How Ohioans Will Be Affected By Deal Requiring Banks To Pay $8.5...

COLUMBUS, OH - January 15, 2012 - (RealEstateRama) -- Today, U.S. Sen. Sherrod Brown (D-OH) revealed how Ohioans will be affected by this month’s deal requiring banks to pay $8.5 billion to homeowners who were hurt by the mortgage crisis. Brown was joined at Homeport by a central Ohio teacher, Jeanne Brigner, a homeowner whose bank initiated foreclosure proceedings despite her being up-to-date on mortgage payments. With the help of Brown’s office, Ms. Brigner is still in her home. Brown outlined legislation that would help the housing market and economic recovery by preventing foreclosures and keeping more Americans in their homes

In Wake Of Wrongful Foreclosures Settlement Deal, Brown Urges Fed and OCC To Maximize...

COLUMBUS, OH - January 15, 2012 - (RealEstateRama) -- In the wake of the settlement deal on wrongful foreclosures reached last week, U.S. Sen. Sherrod Brown (D-OH) today called on Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry to learn from the mistakes of past settlement deals, maximize relief to homeowners, and clean up the mortgage servicing industry. Brown released the letter following a meeting with Ohio homeowners and the Columbus Housing Partnership.

Man Pleads Guilty in Ohio Federal Court to Tax and Mortgage Fraud Conspiracies

WASHINGTON, D.C. - October 15, 2012 - (RealEstateRama) -- Steven R. Hinz pleaded guilty today to tax fraud and mortgage fraud charges in Cleveland federal court, the Justice Department and Internal Revenue Service (IRS) announced. Hinz’s guilty pleas followed recent guilty pleas of three other defendants – Heather L. English, Patricia A. Polk and William E. Phillips III – who were charged in indictment in December 2011 on a tax conspiracy and various false return charges. The case is assigned to U.S. District Judge Patricia A. Gaughan, who scheduled the sentencing for January 2013.

New Consumer Financial Protection Bureau Rules Target Practices Included in Brown-Authored Legislation to Protect...

WASHINGTON, D.C. – New rules proposed by the Consumer Financial Protection Bureau (CFPB) today include provisions—authored by U.S. Sen. Sherrod Brown (D-OH)—to protect homeowners from surprises and costly mistakes by their mortgage servicers. Brown’s Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011 would expand access to foreclosure prevention services, while increasing protections for homeowners and investors in mortgage-backed securities.

With a Sept. 30th Deadline Looming, Brown Alerts Ohioans Who May Have Wrongfully Lost...

WASHINGTON, D.C. - July 26, 2012 - (RealEstateRama) -- Only 6,000 of the 140,000 eligible Ohioans have initiated a foreclosure review process which could put as much as $125,000 in their pockets. During a news conference call today, U.S. Sen. Sherrod Brown (D-OH) alerted more than 140,000 Ohioans whose homes were foreclosed on in 2009 and 2010 to the Independent Foreclosure Review (IFR) process which awards financial assistance to borrowers who were foreclosed on because of errors or misrepresentations by lenders. Requests for review must be submitted by Sept. 30, 2012

With Nearly 25% Of Ohio Homeowners Underwater On Their Mortgages, Brown Unveils New Plan...

COLUMBUS, OH - April 4, 2012 - (RealEstateRama) -- With nearly 25 percent of Ohio homeowners underwater on their mortgages, U.S. Sen. Sherrod Brown (D-OH) today unveiled a new plan to improve the housing market by addressing “short sale” home sales. Short sales are real estate transactions that must be approved by the bank because the seller owes more on their mortgage than the proposed sale price. Brown’s legislation, the Prompt Notification of Short Sale Act, addresses the lengthy closing process that often comes with a short sale—which can last months—by requiring banks to respond in a timely manner when prospective buyers are attempting to purchase such homes

Attorney General DeWine Announces Settlement with American Home Mortgage Servicing

COLUMBUS, OH - December 12, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced an agreement with American Home Mortgage Servicing Inc. (AHMSI) to settle a 2009 lawsuit filed in Franklin County Common Pleas Court that alleged AHMSI violated Ohio consumer law by providing inadequate services to consumers seeking loan modifications.

Following Toledo Blade Report on City’s Abandoned Home Crisis, Brown Raises Concerns With Federal...

WASHINGTON, D.C. - November 14, 2011 - (RealEstateRama) -- Following a report in the Toledo Blade showing that the City of Toledo is on track to raze a record number of abandoned houses this year, U.S. Sen. Sherrod Brown (D-OH) renewed his call for Congress to pass Project Rebuild, a key component of the American Jobs Act that is aimed at revitalizing neighborhoods hit hard by the foreclosure crisis. Brown also raised the abandoned home crisis in a meeting today with Federal Housing Administration (FHA) commissioner nominee Carol Galante. Galante was nominated by President Obama to serve as FHA commissioner in October.

Red Mortgage Capital Completes Permanent Financing for Three Bridge-to-HUD Loans

COLUMBUS, OH - November 4, 2011 - (RealEstateRama) -- Red Mortgage Capital, LLC provided permanent financing for three assisted living senior communities in north-central Ohio utilizing FHA Section 232/223(f) mortgage insurance and Ginnie Mae Mortgage Backed Securities (“GNMA MBS”). The FHA insured loans paid off interim financing that related entity Red Capital Partners, LLC had provided to facilitate acquisition of the properties by New York City-based Premier Senior Living, LLC (“Premier”), a privately-owned owner/operator of seniors housing.

In Cleveland, Brown Joins Homeowner Advocates to Call for Crackdown on Fraudulent Foreclosures

CLEVELAND, OH - July 26, 2011 - (RealEstateRama) -- In the wake of reports that banks and mortgage processors have continued a practice known as “robo-signing”—forging signatures and submitting false affidavits—U.S. Sen. Sherrod Brown (D-OH) held a news conference in Cleveland today to call for renewed federal efforts to crackdown on this risky, illegal practice that undermines Ohio’s housing market. This unlawful act has forced thousands of homeowners into foreclosure and raised doubts about the ownership of hundreds of thousands of mortgages. Recently, both the Associated Press and Reuters reported that despite regulators’ assurances to the contrary, illegal robo-signing allegedly remains rampant in both foreclosure and non-foreclosure cases. The reports also suggest that some regulators are aware of these violations.

Attorney General DeWine and Ohio Department of Commerce Announce Settlement with Carrington Mortgage Services

COLUMBUS, OH - May 20, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine and Ohio Department of Commerce Director David Goodman today announced an assurance of voluntary compliance (AVC) with Carrington Mortgage Services, LLC to resolve a 2009 lawsuit and to provide relief to Ohio homeowners facing foreclosure."This agreement will help Ohioans obtain affordable modifications to allow them to stay in their homes," Attorney General DeWine said. "We are pleased that Carrington Mortgage Services has worked with our Office and is committed to helping Ohio homeowners avoid foreclosure."

Former County Probation Officer, Takara Madkins, and Two Others Indicted in Mortgage Fraud Enterprise...

CLEVELAND, OH - April 15, 2011 - (RealEstateRama) -- County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General and Ohio's Organized Crime Investigations Commission announced indictments against Takara Madkins, and her company, D. & T. Investments, Inc. Others indicted were Jerrall Collier and Darrick Ceasor, and his company, Dee Cee Supply. All the homes fell into either tax or mortgage foreclosure, leaving a current tax delinquency amount of $30,349.15 owed to the county


Central Ohio Housing Report – December 2018

While the 2017 housing market was marked by renewed optimism fueled by stock market strength, higher wages and a competitive environment for home sales, 2018 maintained the competitive housing market amid less than stellar stock market performance and rising interest rates while housing affordability dipped to a ten-year low.