Mortgage

Mortgage

Utah-Based Lenders Agree to Pay Nearly $10 Million to Resolve Alleged False Claims Act...

Primary Residential Mortgage Inc. (PRMI) and SecurityNational Mortgage Company (SecurityNational) have agreed to pay the United States $5 million and $4.25 million, respectively, to resolve separate allegations that they 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.  Both lenders are headquartered in Salt Lake City, Utah

Utah Housing Corporation Announces New Lower Payment Mortgage Option

At a time when housing prices have begun to rebound and interest rates have increased from historic lows, Utah Housing Corporation has launched a new mortgage option to assist low to moderate income homebuyers by providing a product not available anywhere else.

Utah Housing Corporation and the Granite Technical Institute Celebrate the Completion of another ECHO...

A new home built by students is near completion and has a sale pending with a home buyer in West Valley City as a result of a partnership between Utah Housing Corporation and Granite Technical Institute.

Utah Man Pleads Guilty to Charges Connected to Multi-Million-Dollar Mortgage Fraud Scheme

CHARLESTON, WV - July 13, 2012 - (RealEstateRama) -- U.S. Attorney Booth Goodwin announced today that a Utah man pleaded guilty in federal court for his involvement in a multi-million-dollar mortgage fraud scheme linked to properties at a Putnam County, West Virginia. subdivision. Raymond Paul Morris, 51, of South Weber, Utah, pleaded guilty to wire fraud and bank fraud. Morris admitted to participating in the sophisticated multi-million-dollar mortgage fraud scheme in early 2006 along with co-conspirators Deborah L. Joyce, 38, of Hurricane, West Virginia, and Michael Hurd, 37, of Utah.

Federal Grand Jury Returns Indictment Charging Utah County Couple in Alleged Mortgage Fraud Scheme

SALT LAKE CITY, UT - October 17, 2011 - (RealEstateRama) -- A federal grand jury returned an eight-count indictment Wednesday afternoon charging Portia R. Louder, age 40, and Chad Louder, age 41, both of Highland, with criminal violations of federal law in connection with what the indictment alleges was a scheme to profit from loans fraudulently obtained from mortgage lenders.

Utah Housing Corporation Closes $74 Million in Bonds Assisting 515 Lower-Income Families

February 18, 2011 - (RealEstateRama) -- Utah Housing Corporation announced the closing of a $74 million bond sale completing the commitment of bond purchases to the US Department of Treasury under a special program under the 2008 Housing and Economic recovery Act (HERA). Utah Housing sold $44 million bonds to the US Department of Treasury along with $30 million to private investors seeking a return that is not subject to federal income taxes. The issuance provided 30-year fixed rate mortgage loans for over 500 low- to moderate-income families throughout the state of Utah to purchase their first homes. The average purchase price for each home was $142,800 which is about 65% of the current average Utah home sales price. Each home owner’s household income was approximately 73% of the Area Median Income (AMI) for their home's location.

Three of 10 Sentenced in Mortgage Fraud Investigation

November 2, 2010 - (RealEstateRama) -- Three of 10 defendants charged in a mortgage fraud case were sentenced yesterday in Boise by U.S. District Judge Edward J. Lodge, the U.S. Attorney's Office announced. Michael J. Hymas, 59, formerly of Boise, Idaho, was sentenced to 21 months in prison, three years of supervised release, 80 hours of community service, and $544,647 in restitution for wire fraud. Hymas pled guilty to the charge in March 2010. Shauntee K. Ferguson, 33, of Boise, Idaho, was sentenced to five years of supervised release, 80 hours of community service, and $365,829.69 in restitution for making a false atatement to a financial institution.

Indictment Unsealed Charging Midvale Man with Mortgage Fraud Scheme

SALT LAKE CITY, UT - September 2, 2010 - (RealEstateRama) -- A 10-count federal indictment unsealed Thursday charges Christopher D. Hales, age 29, of Midvale, with mail, wire, and bank fraud and with money laundering in connection with an alleged mortgage fraud scheme.

Mortgage Broker Faces Fraud Charges in Connection with Alleged Mortgage Fraud Scheme

SALT LAKE CITY, UT - May 19, 2010 - (RealEstateRama) -- A federal grand jury returned a 15-count indictment Wednesday afternoon charging Joshua Lee Butcher, age 28, of Salt Lake City, with bank fraud and false statements to a financial institution in what the indictment alleges was a scheme to get construction loans approved using false pretenses.

Salt Lake City FBI and Utah Division of Real Estate Name Top Five Mortgage...

Is someone letting you live in a home for free? Did a builder offer you deep discounts to move into a newly constructed house? Has a...

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Reps. Stewart & Frankel Call for Oversight of Unregulated Sober Homes

Rep. Chris Stewart (R-Utah) and Rep. Lois Frankel (D-FL) have sent a bipartisan letter to the U.S. Government Accountability Office (GAO), Congress’ investigative arm, requesting a review of federal and state oversight of sober homes

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Utah-Based Lenders Agree to Pay Nearly $10 Million to Resolve Alleged...

Primary Residential Mortgage Inc. (PRMI) and SecurityNational Mortgage Company (SecurityNational) have agreed to pay the United States $5 million and $4.25 million, respectively, to resolve separate allegations that they 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.  Both lenders are headquartered in Salt Lake City, Utah