Real Estate News – May 31, 2012

A federal judge in Las Vegas has begun accepting guilty pleas from defendants in a sweeping probe of southern Nevada homeowner associations steering business to favored attorneys and businesses (via

About one in four home sales during the first quarter of this year was in some form of foreclosure, according to RealtyTrac. A growing number of those distressed sales were also from short sales, the newly released report shows (via REALTORMag):

SunTrust Mortgage Inc. agreed Thursday to pay $21 million to settle a federal lawsuit alleging racial discrimination in its lending practices, the second-largest fair lending settlement ever obtained by the U.S. Department of Justice (via

A New York bank and 19 ex-employees have been charged with issuing hundreds of millions of dollars of fraudulent mortgages that were later peddled as promising securities to unwitting investors (via

Texas Company Sues Homeowners With Foreclosed Second Mortgages (via