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Loan mod scheme from 2009 finally gets settled at $4.6M

Housing Wire

According to the DOJ, from 2009 through 2015, Lindeman and his wife targeted Hispanic homeowners through Spanish-language advertising that promised to cut mortgage payments in half. Kourouklis ran a company called Summit Development Solutions USA, LLC , which provided mortgage modification services to clients of ALG.

Law 331
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David Stevens, former FHA Commissioner and MBA President, has died

Housing Wire

He left for Freddie Mac in 1995, where he was senior vice president of single family lending and led product development, credit risk and contract negotiations for all single family businesses. Stevens oversaw FHA programs for single and multifamily housing for two years.

Finance 482
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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

Total endorsements between fiscal years 2009 and 2023 were 863,102, a rough estimate of the total number of customers served by the HECM program since the early aftermath of the Great Recession. Loan amounts and HECM limits The actuarial report also detailed loan amount information and how these have changed since fiscal year 2009.

Mortgage 359
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Coldwell Banker Realty welcomes new Boston team

Housing Wire

His expertise spans condominium conversion and development, residential sales, buyer representation and commercial transactions. joined the business in 2009, bringing extensive experience in sales, marketing and strategic management. DelRose Sr. also serves as a trustee at Watertown Savings Bank. DelRose Jr.

Realty 419
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HECM program study assesses policy impacts of recent years

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. Overview of findings The report was released to the public in November 2023.

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As vacant foreclosures increase, so does buyer interest

Housing Wire

“We still have vacancy and blight issues but they are not crippling as they were a decade ago,” said Ian Beniston, executive director at the Youngstown Neighborhood Development Corporation (YNDC), a nonprofit community development corporation in Youngstown, Ohio. In 2008, 2009, it was triage. Rising demand for vacant distress.

Buyers 357
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Investors turn their eyes to affordable housing opportunities

Housing Wire

We’re seeing statistics from our developers across the country that their portfolios are holding up well,” he said. There’s a growing sense that affordable housing is a stable investment class for banks and insurance companies; even in the 2008 – 2009 recession, it held up well.”.

Investors 436