Business, Crime

SCAM ALERT: Attorney General says phony mortgage company reps targeting Maryland residents

BALTIMORE, MD—The Office of the Attorney General on Monday warned of a new scam circulating throughout Maryland. “The Office of the Attorney General has recently been notified of scams involving individuals impersonating mortgage companies. Some of these scammers are calling existing customers of a mortgage company, claiming to be representatives of that company, and offering the customer a loan modification. …


Business, Politics

Attorney General Frosh announces $20 million settlement with Wells Fargo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh announced on Tuesday that the Securities Division entered into a $20 million settlement with Wells Fargo & Company. The Consent Order resolves financial crisis-era claims that Wells Fargo misled investors in its issuance of residential mortgage-backed securities (RMBS). The $20 million settlement is the largest reached by a state for Wells Fargo’s financial-crisis …


Attorney General Frosh calls on HUD to protect seniors’ homes during pandemic

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Friday joined a bipartisan coalition of 26 attorneys general in calling on the U.S. Department of Housing and Urban Development (HUD) to take immediate action to protect senior citizens from homelessness as a result of the COVID-19 pandemic. In a letter sent to HUD Secretary Ben Carson, the coalition recommends specific actions …

Attorney General Frosh urges federal housing officials to help homeowners affected by COVID-19

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week joined a bipartisan coalition of 35 attorneys general in sending letters to the Federal Housing Finance Administration (FHFA) and the Department of Housing and Urban Development (HUD) recommending actions to help homeowners in the wake of the COVID-19 pandemic. The coalition applauded federal efforts to suspend evictions and foreclosures, as well …

Governor Hogan announces financial relief initiatives for Marylanders, small businesses [VIDEO]

BALTIMORE, MD—In collaboration with Maryland’s financial institutions, Governor Larry Hogan on Friday issued an Executive Order and announced a series of financial relief initiatives to provide assistance to millions of consumers and small businesses who are facing economic hardships due to COVID-19. “As our state responds to this deadly public health emergency, Marylanders should not be worried about losing their …

Governor Hogan prohibits mortgage lenders from initiating foreclosure process during COVID-19 pandemic

UPDATE: Click here for a full summary and video from Governor Hogan’s Friday press conference. Original story below… —— ANNAPOLIS, MD—Governor Larry Hogan held a press conference on Friday afternoon outlining additional steps the state of Maryland would take to assist Maryland residents during the coronavirus pandemic. Governor Hogan is issuing an emergency order to provide additional and immediate financial …

Governor Hogan announces record milestone of $1 billion in mortgages through Maryland Mortgage Program in 2019

ANNAPOLIS, MD—Governor Larry Hogan on Monday announced that the Maryland Department of Housing and Community Development’s Maryland Mortgage Program reached a record $1 billion in reservations for the program in 2019, representing more than 4,000 homebuyers. This is a 12-month period high for the history of the program. The Maryland Mortgage Program provides fixed-rate mortgages that come with downpayment and …

Baltimore mortgage rates steady to begin February

by Chris Montcalmo, Sierra Pacific Mortgage Freddie Mac on Thursday released the results of its Primary Mortgage Market Survey, showing average 30-year Baltimore mortgage rates holding steady after rising last week. The 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.5 point for the week ending Feb. 2, 2017, unchanged from last week. A year ago at this time, …