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Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million – The founder and president of a defunct massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million. Robert Pena.

According to a release from AIG, United Guaranty obtained $298.6 million of. s first-lien U.S. mortgage insurance portfolio of policies issued in 2008 and prior years, which represents a relatively.

BOSTON – (RealEstateRama) – The president and founder of a Falmouth mortgage company pleaded guilty yesterday in federal court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately $2.5 million.

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million.

VanDyk Mortgage Announces Ginnie Mae Approval Woods was the CEO of Mainstreet Bank and the bank’s holding company, Calvert Financial Corp. when the company. Woods was eventually arrested and charged with misleading SIGTARP over his use of the.

Commercial mortgage-backed securities market at crossroads Treasury to pay investors triple for HAMP principal reductions SECTION 2. BACKGROUND-HAMP AND THE hamp principal reduction alternative .01 To help distressed borrowers lower their monthly mortgage payments, Treasury and HUD established HAMP for mortgage loans that are not owned or guaranteed by the Federal National Mortgage Association (Fannie Mae) or the federal home loan mortgage Corporation (Freddie Mac).Commercial mortgage-backed securities (cmbs) rallied sharply during the first quarter, particularly in more subordinated tranches, owing to strong demand, negative net issuance of -$18.4 billion, and new risk retention structures.

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of .5 million The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million.

Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million . Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million . The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million.

But one area where HousingWire and Deadspin share a common interest is in Dan Gilbert, the founder and chairman of Quicken Loans. It’s impossible to read the numerous lawsuits against the mortgage.

The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million. Robert Pena pleaded guilty in 2017 to one count of conspiracy and six counts of wire fraud. pena was the founder and president of Mortgage Security Inc., a shuttered mortgage.

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