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 ktvn.com):
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): http://tinyurl.com/83d32ts
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 foxnews.com): http://tinyurl.com/7zcl7rq
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 usatoday.com): http://tinyurl.com/6pmulug
Texas Company Sues Homeowners With Foreclosed Second Mortgages (via abcnews.go.com): http://tinyurl.com/79f93te