Dodd-Frank 2014 Part Two: New Federal Rules for Consumer Mortgage Loan Servicing and Loss Mitigation

By Bradley S. Dornish, Esquire

In addition to the new rules for loan applications which went into effect this January, (covered in part one of this article) the Consumer Financial Protection Bureau promulgated a new set of rules governing the servicing of existing consumer mortgage loans by creditors and their mortgage servicers. Some of the changes in these rules affect all mortgage servicers, while others have exemptions for certain small servicers. Click here to read more »

Dodd-Frank 2014 Part One: New Federal Rules Affecting Consumer Mortgage Loan Applications

By Bradley S. Dornish, Esquire

The Dodd-Frank Wall Street Reform and Consumer Protection Act became law in July of 2010. However, the process of changing the consumer mortgage loan process in America dictated by Dodd-Frank is not yet complete. Two new sets of regulations promulgated by the Consumer Financial Protection Bureau went into effect on January 10th of this year. Click here to read more »

Three Years of the Western PA Mortgage Fraud Task Force

By Bradley S. Dornish, Esq.

Just when I started thinking the Western Pennsylvania Mortgage Fraud Task Force was slowing down, since I hadn’t seen any press releases in a while, the Department of Justice announced that the task force was going strong on its third anniversary. The U.S. Attorney for the Western District of PA, David Hickton, announced the filing of charges against 14 individuals in seven different mortgage fraud schemes on February 4, the anniversary of the formation of the task force. Click here to read more »

Mortgage Fraud Task Force Hits Real Estate Investors Close to Home

By Bradley S. Dornish, Esq.

Beaver Financial Services was for several years a vendor member of Acre of Pittsburgh, and several of its loan officers attended meetings each month, in their light blue shirts with beavers on them, offering to help investors obtain bank financing. The company never joined Acre of Beaver County, but helped several members there with financing as well.

Not long ago, these familiar faces disappeared from the Acre meetings. Recently, several  real estate investors who formerly did business with Beaver Financial as buyers and sellers of properties, an attorney as well as at least one Beaver Financial loan officer, have been in various stages of criminal prosecution Click here to read more »

A Little Fraud Goes a Long Way, But You Can Stop It

By Bradley S. Dornish, Esq.

In just over a month, I have seen three Pittsburgh Real Estate Lawyers lose their careers, reputations, huge sums of money, and soon, their freedom, over mortgage fraud.  I knew and dealt with each of them. They all had good educations, many years of experience, and handled a lot of closings for real estate investors. Click here to read more »