Mortgage

Mortgage

Real Estate Investor Charged in 14-Count Indictment Alleging Bank and Mail Fraud, Money Laundering

A real estate investor has been charged in a 14-count indictment that alleges he defrauded three banks and a mortgage lending business. Edward L. Stanton III, U.S. Attorney for the Western District of Tennessee, announced the indictment today

THDA Studies Aftermath of Mortgage Crisis in Tennessee

A sharp decline in the share of home purchase loans going to African-American borrowers has been among the most significant and lasting effects of mortgage market crisis in Tennessee, according to a new study from THDA

“Great Choice” Mortgage Loans Ready for Summer Season

With mortgage interest rates rising fast, Tennessee homebuyers may be in for a pleasant surprise. THDA’s Great Choice mortgage program is very competitively priced. “Encouraging homeownership is tremendously important to the state economically, but the benefits on the individual family level are even more important,” said THDA Executive Director Ralph M. Perrey. “When families own their own homes, they have opportunities to build equity and create wealth for their long-term financial security.

First Tennessee Bank N.A. Agrees to Pay $212.5 Million to Resolve False Claims Act...

First Tennessee Bank N.A. has agreed to pay the United States $212.5 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements, the Justice Department announced today. First Tennessee is headquartered in Memphis, Tennessee

Guild Mortgage Now Offers THDA Financing

Tennessee Housing Development Agency recently approved Guild Mortgage Company as its newest originating agent for affordable mortgage loans. The new designation will allow Guild Mortgage to begin immediately originating mortgages under the THDA Great Choice loan program.

THDA Promotes Great Choice Mortgage Loans in Dyer County

Tennessee Housing Development Agency brought its Great Choice tour to Dyersburg today in partnership with the Dyersburg Board of REALTORS®. The goal of THDA’s tour is to raise awareness of its mortgage loan programs, and to tell consumers that homeownership might be closer than they imagined.

Cohen, McDermott Introduce Bill to Help Struggling Families Keep Their Homes

Congressmen Steve Cohen (TN-09) and Jim McDermott (WA-07) today introduced the Limiting Investor and Homeowner Loss in Foreclosure Act of 2014 to prevent foreclosures and help struggling families keep their homes. The newly-introduced legislation would encourage debtors and secured lenders to come together to discuss and secure mutually beneficial resolutions of their mortgage difficulties.

Governor’s Housing Summit Opens Oct. 7

Nashville, TN - September 13, 2013 - (RealEstateRama) -- Mortgage finance reform is central to stabilization of the housing market. Two perspectives on this issue will be offered in the opening session of the Governor’s Housing Summit October 7.

HUD Provides Grant for Housing Counselors

NASHVILLE, TN - June 25, 2013 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced last Tuesday they will provide $40 million in additional funding to housing counseling agencies across the country. The HUD grants ensure housing counselors are available to help individuals and families make informed housing decisions through prepurchase and foreclosure counseling.

THDA Mortgages Ready for Homeownership Month – Funds Available Statewide through Lenders

NASHVILLE, TN - June 4, 2013 - (RealEstateRama) -- Saturday marked the beginning of National Homeownership Month- an annual recognition of the important role housing plays in creating jobs, maintaining viable communities, providing stability for families, and contributing to the economy

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MERCY LOAN FUND PARTNERS WITH NATIONAL CHURCH RESIDENCES TO PRESERVE MUCH-NEEDED...

Mercy Loan Fund (MLF), a leading Community Development Financial Institution (CDFI) based in Denver, Colo., has announced it has partnered with National Church Residences (NCR) to help preserve 55 affordable homes for seniors at Hickory Hollow Senior Apartments in Memphis, Tenn.

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June Market Report

Memphis-area home sales for June increased 4.2 percent from a year ago, with 1,887 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 6.1 percent from May when there were 1,779 total sales. Average sales price from June-to-June was up 1.6 percent, at $186,626. Inventory increased 1.7 percent, with 4,777 units listed for sale. Year-to-Date sales volume was up 13.3 percent at $1.53 billion.