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Really? Traders cooked subprime books
Real estate news and views from around the globe that make you go, “Really?” Former Credit Suisse trader admits falsifying subprime books Globe and Mail Ex-Credit Suisse traders charged in subprime...
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See $2.2 million home occupied by squatters (Photos)
10 Hidden Pass has 3,200 square feet and ocean views. Click here to see photos. The squatters are gone. Today, the Newport Coast home is “immaculate,” according to its agent. Richly furnished, the...
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California joins robo-signing settlement
Harris -- AP file art Hold-out Attorney General Kamala Harris announced today that California now is joining a nationwide settlement with five major banks of the ‘robo-signing’ lawsuit, a deal that she...
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OC’s share of foreclosure settlement: $1.1 billion
Harris briefs reporters on settlement (Click to enlarge)/Jeff Collins, The Orange County Register Orange County homeowners stand to get an estimated $1.1 billion from the multi-state foreclosure...
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State didn’t give all the mortgage fix numbers
Harris briefs reporters on settlement. Click on slide show to see some details. (UPDATE: The headline and top paragraphs of this story were revised to make it clearer that the state attorney general’s...
View ArticleDeal will cut O.C. mortgages by $668 million
Breakdown of California homeowners benefitting Benefit Homeowners Loan write downs 250,000 Restitution 140,000 Refinance 28,000 Anti-blight 16,600 Short sales 23,000 Deficiency bal. 32,100 Total...
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Really? ‘Eye-opening’ mortgage fraud in Canada
Real estate news and views from around the globe that make you go, “Really?” Mortgage fraud hits ‘eye-opening’ level in Canada — Vancouver Sun Citigroup to Pay $158 Million in Mortgage Fraud...
View ArticleBanks to get state mortgage monitor
California Attorney General Kamala Harris named UCI Law Professor Katherine Porter, an expert on bankruptcy and consumer law, as independent monitor of the state’s share of the $25 billion mortgage...
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Really? Mortgage whistleblower gets $18 million
Real estate news and views from around the globe that make you go, “Really?” Whistleblower facing foreclosure wins $18 million — CBS News SEC Charges Three Former Mortgage Executives With Fraud —...
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Billionaire Olenicoff suing his Swiss banker
Igor Olenicoff — the man who created the Newport Beach-based Olen commercial real estate empire — wants his former Swiss bankers at UBS to pay him as much as $1.7 billion for alleged bad advice that...
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Billionaire’s suit vs. Swiss bankers faces dismissal
Real estate billionaire Igor Olenicoff’s hopes to get up to $1.7 billion from his former Swiss bankers will likely be dashed by a U.S. judge. Olenicoff. Source: Register file photo; click to see a list...
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Billionaire’s judge: ’2 wrongs do not make a right’
U.S. Judge Andrew J. Guilford has officially tossed the lawsuit of billionaire Igor Olenicoff — the man who created the Newport Beach-based Olen commercial real estate empire — against his former Swiss...
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Mortgage rates just off record lows
What’s happening with mortgage rates? We’ve asked Jeff Lazerson, of Mortgage Grader in Laguna Niguel, to give us his weekly take … RATE NEWS SUMMARY: From Freddie Mac’s weekly survey the average...
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Really? $30B in '11 mortgage fraud
Real estate news and views from around the globe that make you go, “Really?” Nearly $30 Billion in Mortgage Fraud Reported in 2011 — Mortgage Daily Developer convicted in Mass. mortgage scam...
View ArticleIrvine broker gets 6.5 years in real estate fraud
A federal judge sentenced David Richard Sparks -– an Irvine broker and former city planning commissioner -– to 6 1/2 years in prison for falsely promising to invest family and friends’ money in...
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B of A to pay discrimination settlement
Bank of America agreed to pay $161,180 to settle accusations that it refused to refinance an Irvine woman’s mortgage because she was on maternity leave, the U.S. Department of Housing and Urban...
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Appeals court sides with Newport enclave
A state court ruled that a gate can remain at the Balboa Peninsula side of the Bay Island bridge after the span is rebuilt. The California Coastal Commission sought to open the bridge to the public....
View Article$10 million real estate fraud uncovered
The Register’s Salvador Hernandez tells us three local men are accused of defrauding homeowners, investors and financial institutions in a real estate scheme that federal authorities allege caused more...
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State lawmakers pass new foreclosure protection
California lawmakers passed new, strong consumer-protection laws that could better the chances of troubled homeowners to save their homes from foreclosure. The bills have been sent to Gov. Jerry Brown...
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Really? Banks rigged key mortgage rate
Real estate news and views from around the globe that make you go, “Really?” The financial world is now rocked by another scandal: news that a global interest rate know as “LIBOR” was rigged by...
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