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SB 1150 Passes Senate Hurdle After Dramatic Turnaround

Senate Bill 1150, a bill to protect widows, widowers and other heirs from unnecessary foreclosures, passed a key hurdle today when it was voted out of the Senate on a vote that was not without drama. Amidst intense industry lobbying pressure and after appearing to go down to defeat for failing to secure sufficient votes yesterday, the bill secured the needed 21 votes today.

New Data Reveals: CIT Group’s Financial Freedom is Responsible for Nearly 40% of HECM...

Earlier today, the California Reinvestment Coalition called on the Department of Housing and Urban Development (HUD) to impose a moratorium on any additional reverse mortgage foreclosures by CIT Group and its subsidiary, Financial Freedom. The call for a moratorium is based in part on new data (see fact sheet here) that CRC obtained from HUD, indicating that Financial Freedom/CIT Group’s share of reverse mortgage foreclosures (39%) since April 2009 is more than two times greater than the company’s estimated market share (17%).

THOMPSON SECURES MORE THAN $2 MILLION FOR AMERICAN CANYON GREEN ISLAND INDUSTRIAL DISTRICT

U.S. Rep. Mike Thompson (CA-05) today announced a $2,438,681 Economic Development Administration (EDA) investment which will support roadway and infrastructure improvements to the Green Island Industrial District (GRID) in American Canyon. The funds will be used to help reconstruct Green Island Road, a goods movement corridor for the GRID. In August, 2014 Thompson urged Northern California’s EDA representative to support the City of American Canyon’s application for federal funding.

Two Northern California Real Estate Investors Plead Guilty to Bid Rigging and Fraud at...

Two Northern California real estate investors pleaded guilty for their role in bid-rigging conspiracies and mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced today.

C.A.R. 2015 Home buyers Survey findings

With an improving economy and job market over the past year, home buyers have started forming households again, and buyers who previously experienced a foreclosure or short sale are back in the housing market, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2015 Survey of California Home Buyers.”

Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners

The California Chamber of Commerce is holding its annual “Capitol Summit” meeting this week, and two statewide nonprofits are calling on the Chamber to reverse its position on legislation that would protect widowed homeowners from unnecessary foreclosures

Northern California Real Estate Investor Agrees to Plead Guilty to Bid Rigging at Public...

A Northern California real estate investor has agreed to plead guilty for his role in conspiracies to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging and...

Two Northern California real estate investors have agreed to plead guilty for their role in bid rigging and fraud conspiracies at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Northern California Real Estate Investor Agrees to Plead Guilty to Bid Rigging and Fraud...

Felony charges were filed today in the U.S. District Court of the Northern District of California in Oakland against Ramin Yeganeh of San Mateo, California.

CalHFA Awarded $450,000 to Provide Counseling for Struggling Homeowners Provides assistance to California homeowners...

The California Housing Finance Agency (CalHFA) today announced that it will receive more than $450,000 in additional federal dollars to provide free counseling to homeowners struggling to avoid foreclosure

Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging and...

WASHINGTON, D.C. - November 24, 2014 - (RealEstateRama) -- Two Northern California real estate investors have agreed to plead guilty for their role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Community Groups Question OneWest’s Foreclosure Record As Part of Too Big To Fail Bank...

San Francisco - October 17, 2014 - (RealEstateRama) -- As part of a five-day awareness campaign about the potential impacts of a new, Too Big To Fail bank merger, a nonprofit bank advocacy coalition raised questions today about OneWest’s track record of helping (or not helping) distressed homeowners.

Rep. McNerney Writes Bipartisan Bill to Aid Homeowners Facing Foreclosure

WASHINGTON, D.C. - September 18, 2014 - (RealEstateRama) -- Today, Congressman Jerry McNerney (CA-09) introduced the Fast Help For Homeowners Act, to help speed up the short sale process and aid homeowners who may otherwise be facing foreclosure

New Report Finds Ongoing Servicer Mistakes Push Homeowners to Foreclosure

San Francisco, CA: - May 20, 2014 - (RealEstateRama) -- A new survey of housing counselors and attorneys finds homeowners are facing unreasonable delays, numerous obstacles, and servicer run-arounds in seeking help from their mortgage servicers, despite new laws, programs, and settlements intended to protect homeowners

California Foreclosure Starts Hover Near 8-Year Low

La Jolla, CA. - April 23, 2014 - (RealEstateRama) -- For the third consecutive quarter California foreclosure starts remained little changed at a level last seen in early 2006, the result of steady economic growth and higher home values. Foreclosure processors are still mostly plowing through a pool of toxic subprime mortgages originated back in mid-to-late 2006, a real estate information service reported.

California Foreclosure Starts Dip to Eight-Year Low

La Jolla, CA. - January 21, 2014 - (RealEstateRama) -- The number of California homeowners pulled into the formal foreclosure process dropped to an eight-year low last quarter, the result of an improving economy, foreclosure prevention efforts and higher home prices, a real estate information service reported.

Three Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at...

WASHINGTON, D.C. - January 3, 2013 - (RealEstateRama) -- Three Northern California real estate investors have agreed to plead guilty for their roles in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Eastern California Real Estate Investor Pleads Guilty to Bid Rigging and Fraud at Public...

WASHINGTON, D.C. - January 2, 2013 - (RealEstateRama) -- An Eastern California real estate investor pleaded guilty today to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions in Eastern California, the Department of Justice announced.

Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at...

WASHINGTON, D.C. - December 16, 2013 - (RealEstateRama) -- Felony charges were filed today in the U.S. District Court for the Northern District of California, in San Francisco, against Florence Fung of Sacramento, Calif, and Michael Navone of San Rafael, Calif. Fung and Navone are the 39th and 40th individuals to plead guilty or agree to plead guilty as a result of the department’s ongoing antitrust investigations into bid rigging and fraud at public real estate foreclosure auctions in Northern California

Northern California Real Estate Investor Pleads Guilty to Bid Rigging at Public Foreclosure Auctions

WASHINGTON, D.C. - November 5, 2013 - (RealEstateRama) -- A Northern California real estate investor pleaded guilty today for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced

Popular Government & Nonprofit Press Releases

Recent Government & Nonprofit Press Releases

Torres, Poe Introduce Bipartisan Bill to Help Homeowners Prepare for Natural...

With the 2018 hurricane and wildfire season underway, the Homeowners Disaster Preparation Act would provide homeowners with loans to better plan for floods, earthquakes, tornadoes, and landslides. U.S. Representatives Norma J. Torres (D-CA) and Ted Poe (R-TX) introduced the bipartisan Homeowners Disaster Preparation Act