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SANTA ANA, CA - September 24, 2012 - (RealEstateRama) -- The owner of a Pasadena mortgage brokerage firm was sentenced today to 108 months in federal prison for participating in a mortgage fraud scheme that obtained more than $30 million in loans.

Washington, DC - September 13, 2012 - (RealEstateRama) -- Yesterday, Congresswoman Maxine Waters held a bipartisan panel discussion on the nation’s ongoing housing crisis and whether the use of eminent domain to seize underwater mortgages is a feasible alternative to provide struggling homeowners with relief. The event was the third in a series of panels Rep. Waters launched this summer to discuss current topics in financial regulation. To open the panel discussion, Rep. Waters delivered the following remarks:

LOS ANGELES, CA - September 13, 2012 - (RealEstateRama) -- Federal agents this morning arrested 10 defendants who worked at a Rancho Cucamonga-based business that allegedly offered bogus loan modification programs to financially distressed homeowners. As a result of the scheme allegedly run out of 21st Century Real Estate Investment Corp. and several related companies, more than 4,000 financially distressed homeowners lost at least $7 million in fees they paid to the company, and many homeowners lost their homes to foreclosure.

Washington, DC - September 11, 2012 - (RealEstateRama) -- Congressman Joe Baca (D-Rialto) introduced legislation that directs the Government Sponsored Housing Entities, Fannie Mae and Freddie Mac, to offer 50 year mortgage refinance terms to qualified homeowners. The Flexible Refinancing for American Families Act establishes a mortgage plan that would allow homeowners to receive immediate, short-term relief in the form of low monthly mortgage payments.

WASHINGTON, DC - September 11, 2012 - (RealEstateRama) -- Citing new momentum and support among a broad array of stakeholders, U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) today reintroduced the Responsible Homeowner Refinancing Act and called on Republicans to join them in passing the measure which would help millions of responsible homeowners refinance at lower mortgage rates.

SACRAMENTO, CA - August 31, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced that the final parts of the California...

SACRAMENTO, CA - August 13, 2012 - (RealEstateRama) -- Two Chico business partners were sentenced today to prison for a mortgage fraud scheme they operated in 2006-2007, United States Attorney Benjamin B. Wagner announced.

LOS ANGELES, CA - July 25, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced defendants who ran a national loan modification scam were ordered to pay more than $4 million in penalties and restitution, including $2 million to consumers who were falsely promised modifications of their mortgage loans

Washington, DC - July 19, 2012 - (RealEstateRama) -- Congresswoman Linda Sánchez (CA-39) today announced that the Department of Veterans Affairs (VA) is awarding a total of $1.95 million to two local non-profit organizations to help more than 700 at-risk veterans and their families. The VA is awarding $1 million to the Salvation Army of California and $950,000 to People Assisting the Homeless (PATH) through a federal program to prevent and end veteran homelessness. Both organizations serve the 39^th Congressional District.

Washington, D.C. - July 16, 2012 - (RealEstateRama) -- Democratic Leader Nancy Pelosi released the following statement after California Governor Jerry Brown, joined by Attorney General Kamala Harris, signed the California Homeowner Bill of Rights into law today in Los Angeles.

LOS ANGELES, CA - July 12, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris announced that the Homeowner Bill of Rights, which will protect homeowners and borrowers during the mortgage and foreclosure process, was signed into law today by Governor Edmund G. Brown Jr.

RIVERSIDE, CA - July 10, 2012 - (RealEstateRama) -- Today, Gregory Flores, former manager at All Fund Mortgage in Anaheim Hills, was sentenced to 144 months’ imprisonment and three years of supervised release. U.S. District Judge J. Virginia Phillips also ordered Gregory Flores to pay over $1 million in restitution to homeowner victims and over $98,000 in restitution to the IRS for his role in a mortgage fraud conspiracy and for evading taxes.

LOS ANGELES, CA - July 6, 2012 - (RealEstateRama) -- A real estate developer who formerly resided in Atascadero was indicted today on federal fraud and money laundering charges that accuse him of bilking investors who put money into Central Coast real estate projects—money that was siphoned off for other purposes, including maintaining a lavish lifestyle.

SACRAMENTO, CA - July 4, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced that the non-conference committee components of the California Homeowner Bill of Rights have passed out of legislative committees.

SACRAMENTO, CA - July 3, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris announced the California Homeowner Bill of Rights is one step closer to becoming law after key provisions passed the California Legislature today. The bills, which provide first of their kind protections for homeowners and reforms to the mortgage and foreclosure process, will now be sent to the desk of Governor Jerry Brown for consideration. The bills were approved 53 to 25 in the Assembly and 25 to 13 in the Senate.

SACRAMENTO, CA - June 28, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced the passage of two central elements of the California Homeowner Bill of Rights through a special two-house conference committee. The 4 to 1 vote sends the bills to an expected vote next week in both the Assembly and Senate

SACRAMENTO - June 20, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced the Assembly Public Safety Committee passed an important piece of the California Homeowner Bill of Rights that aims to protect California homeowners from fraud and scams.

Irvine, CA - June 13, 2012 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), one of the largest, privately held non-bank lenders in the US, is pleased to announce the launch of their new correspondent division from the company’s recently opened fulfillment center in Irvine, CA. The launch of REMN’s correspondent division coincides with the addition of two key hires to be based in the Irvine fulfillment center. Effective immediately, Bela M. Donine is joining REMN as Managing Director of Correspondent Lending, charged with leading the strategic launch of this important new initiative for REMN. Joining Donine will be Melissa Sherman, Managing Director of West Coast Operations, who will provide support for the new correspondent division and manage wholesale fulfillment operations for the West Coast.

WASHINGTON, D.C. - May 31, 2012 - (RealEstateRama) -- Californians need Attorney General Harris’ Homeowner Bill of Rights to fix mortgage lending abuses and speed economic recovery. But lobbyists fighting it in Sacramento have now enlisted mortgage bankers from around the country to help them defeat it.

Washington, DC - May 17, 2012 - (RealEstateRama) -- Senator Dianne Feinstein (D-Calif.) today introduced the Expanding Refinancing Opportunities Act of 2012, a bill to allow more homeowners the chance to refinance mortgages with insurance provided by the Federal Housing Administration (FHA). The proposal applies to mortgages not already guaranteed by federal housing authorities such as Fannie Mae, Freddie Mac and FHA.