Mortgage

Mortgage

$97,000 grant will help Idahoans prevent foreclosure

Idaho Housing and Finance Association (IHFA) recently received a $97,000 grant from the National Foreclosure Mitigation Counseling Program that will bolster its efforts to provide counseling to Idaho homeowners in danger of foreclosure.

Idaho Supreme Court Affirms MERS is a Lawful Beneficiary

MERSCORP Holdings, Inc. today announced that the Idaho Supreme Court affirmed the District Court of the Fourth Judicial District judgment that MERS is a valid beneficiary

Idahoans to Get $3.7 Million in Mortgage Principal Reductions from Ocwen Financial

Ocwen Financial Corporation will provide Idaho borrowers with an estimated $3.7 million in first lien mortgage principal reductions, under terms of a legal settlement, Attorney General Lawrence Wasden said. In addition, more than 900 Idaho borrowers will be eligible to receive a cash payment. The payment amount, which is contingent on the number of consumers who submit valid claims, is projected to exceed $1,000 per consumer.

Finance Department Announces Enhanced Participation in Nationwide Mortgage Licensing System

Boise, ID - August 1, 2013 - (RealEstateRama) -- Gavin Gee, director of the Idaho Department of Finance, today announced that starting September 1, the Department will begin using the Nationwide Mortgage Licensing System (NMLS) to manage consumer finance company, payday lender and collection agency licenses on a voluntary basis. Mortgage licensees have been on NMLS since 2008 and money transmitters since 2012. The department now has 3,027 licensees using NMLS.

6,000 Idaho Borrowers to Share More Than $9 Million from National Mortgage Settlement

Boise, ID - June 6, 2013 - (RealEstateRama) -- 6,564 Idahoans will receive a check this month for approximately $1,480, Attorney General Lawrence Wasden said. The payments to borrowers are a result of the National Mortgage Settlement negotiated by state attorneys general and the federal government in 2012.

Idaho Supreme Court: MERS Meets Definition of Beneficiary

Reston, Virginia - April 26, 2013 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that a five-justice panel of the Idaho Supreme Court unanimously affirmed a lower court decision in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and three other defendants, dismissing the Plaintiff's complaint of wrongful foreclosure

Idaho Department of Finance to Adopt New Uniform State Mortgage Loan Originator Test

Boise, ID - March 28, 2013 - (RealEstateRama) -- The Idaho Department of Finance announced today that effective April 1, 2013, the national test for mortgage loan originators (MLOs) seeking licensure in Idaho will include a new uniform state test component. Idaho is one of 25 initial states to adopt the uniform state test, although additional states are expected to follow suit in the coming months.

Senators Introduce Legislation Requiring CFPB to Conduct Small Business Panel on Mortgage Rule

Washington, D.C. - September 20, 2012 - (RealEstateRama) -- Idaho Senator Mike Crapo (R-ID), along with Senators Richard Shelby (R-AL), Bob Corker (R-TN) and Pat Toomey (R-PA), today introduced legislation, S. 3571, that requires the Consumer Financial Protection Bureau (CFPB) to conduct a small business panel on the Qualified Mortgage rule before it can go forward with a final rule.

Albuquerque Real Estate Agent Sees Foreclosures and Bank Owned Homes Dominating 2012 Market

Albuquerque, NM - May 3, 2012 - (RealEstateRama) -- Bank owned homes will dominate the 2012 real estate market according to Albuquerque REALTOR® Joe Maez of Keller Williams Realty Westside.

Idaho Department of Finance Joins Historic $25 Billion State-Federal Mortgage Servicing Settlement

Boise, ID - February 13, 2012 - (RealEstateRama) -- Department of Finance Director Gavin Gee announced his department is participating in an historic mortgage servicing settlement in response to significant and far-reaching problems discovered in the residential mortgage servicing industry. The $25 billion settlement is between 45 state regulatory agencies and the District of Columbia, 49 state attorneys general, a host of federal agencies, and the five largest mortgage servicing companies – Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc., and Ally Financial Inc.

Foreclosure Inventory To Bring Out Bargain Hunters Says Meridian Real Estate Agent John Espinosa

MERIDIAN, ID - February 1, 2012 - (RealEstateRama) -- Meridian REALTOR® John Espinosa sees foreclosure inventory of bank owned homes likely continuing to bring out bargain hunters through 2012, bringing with it exceptional prices.

Finally Home!® Homebuyer Education 2012 Class Schedule Now Available

December 28, 2011 - (RealEstateRama) -- BOISE—Finally Home!® Homebuyer Education classes will be held across the state throughout 2012. Idaho Partners for Homebuyer Education, Inc. (IPHBE Inc.) offers these informative classes to educate homebuyers about the home purchase process in partnership with regional training partners throughout Idaho. Classes are also available online in English and Spanish at www.finallyhomecourse.com.

Department of Finance Warns of Mortgage Modification Scam Targeting Spanish Speaking Idahoans

Boise, ID - August 31, 2011 - (RealEstateRama) -- Gavin Gee, director of the Idaho Department of Finance, today warned that a company calling itself Freedom Companies Marketing, Inc., Freedom Companies, Inc., Freedom Companies Lending, and Freedom Financial Mortgage (Freedom) has been targeting Spanish speaking Idaho homeowners with false promises of a government-guaranteed mortgage loan modification for a large upfront fee.

Up to $50,000 Available to Help Pay Your Mortgage

BOISE, ID - July 29, 2011 - (RealEstateRama) -- Do you need help with your mortgage payments? Emergency Homeowners’ Loan Program (EHLP) funds are available through the Idaho Housing and Finance Association (IHFA) to assist qualified unemployed or underemployed families make their mortgage payments for up to 24 months by providing zero-interest, forgivable loans.

Meridian Real Estate Agent Sentenced for Mortgage Fraud

BOISE, ID - July 13, 2011 - (RealEstateRama) -- Melody C. Redondo, 33, of Meridian, Idaho, was sentenced today to 15 months in prison followed by five years of supervised release for making a false statement to a financial institution, U.S. Attorney Wendy J. Olson announced. Chief U.S. District Judge B. Lynn Winmill also ordered Redondo to pay $333,403.26 in restitution and perform 80 hours of community service. She pleaded guilty to the charge on February 15, 2011.

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