A 50-year-old Salem, Massachusetts man who orchestrated a 10-year mortgage fraud scheme involving fraudulent loan transactions totaling $6.5 million and more than $3.8 million in losses to lenders was convicted by a federal jury in Boston, the U.S. Attorney's Office announced.George Kritopoulos was convicted on Friday, May 27, of one count of conspiracy, two counts of wire fraud, six counts of bank fraud, one count of aiding the preparation of a false income tax return and one count of obstruct...
A 50-year-old Salem, Massachusetts man who orchestrated a 10-year mortgage fraud scheme involving fraudulent loan transactions totaling $6.5 million and more than $3.8 million in losses to lenders was convicted by a federal jury in Boston, the U.S. Attorney's Office announced.George Kritopoulos was convicted on Friday, May 27, of one count of conspiracy, two counts of wire fraud, six counts of bank fraud, one count of aiding the preparation of a false income tax return and one count of obstruct...
Driven by skyrocketing home prices and rising interest rates, average mortgage payments in the Twin Cities have climbed by more than a third in the last year, pushing the metro area's homeowners above a threshold widely considered burdensome.
Driven by skyrocketing home prices and rising interest rates, average mortgage payments in the Twin Cities have climbed by more than a third in the last year, pushing the metro area's homeowners above a threshold widely considered burdensome.
Mortgage debt is rising despite the fact that mortgage originations for refinances and purchases are trending downward. The Federal Reserve Bank of New York's quarterly household debt report shows an increase in household debt of $266 billion (1.7%) to $15.84 trillion for the first quarter of 2022. But new loan originations โ both for home purchases and refinancing of existing mortgages โ fell to $859 billion, the lowest since the second quarter of 2020.ย
Mortgage debt is rising despite the fact that mortgage originations for refinances and purchases are trending downward. The Federal Reserve Bank of New York's quarterly household debt report shows an increase in household debt of $266 billion (1.7%) to $15.84 trillion for the first quarter of 2022. But new loan originations โ both for home purchases and refinancing of existing mortgages โ fell to $859 billion, the lowest since the second quarter of 2020.ย
Multifamily mortgages had a banner year in 2021 and they're doing better than anticipated in 2022, according to recent mid-year forecasts.Originations totaled $487 billion last year, marking an all-time high, according to Mortgage Bankers Association research published Tuesday. In addition, volume this year is beating expectations, Freddie Mac's research team said in a separate report.ย However, this sector of the market โ which banks like HomeStreet have used to partially offset single-famil...
Multifamily mortgages had a banner year in 2021 and they're doing better than anticipated in 2022, according to recent mid-year forecasts.Originations totaled $487 billion last year, marking an all-time high, according to Mortgage Bankers Association research published Tuesday. In addition, volume this year is beating expectations, Freddie Mac's research team said in a separate report.ย However, this sector of the market โ which banks like HomeStreet have used to partially offset single-famil...
