Maryland ranks 1st among states where mortgage debt is increasing the most, WalletHub study

BALTIMORE, MD—Americans owe more than $12 trillion on their mortgages, and the personal-finance website WalletHub this week released its report on the States Adding the Most Mortgage Debt to show where homeowners are struggling the most. WalletHub compared the 50 states based on its proprietary data on mortgage debt from Q3 2023 to Q4 2023. Maryland topped the list, with […]

Federal jury convicts former Baltimore State’s Attorney Marilyn Mosby

GREENBELT, MD—A federal jury has convicted Marilyn J. Mosby, 44, of Baltimore, on the federal charge of making a false mortgage application when she was Baltimore City State’s Attorney. The charges stem from the purchase of a condominium in Long Boat Key, Florida. The jury acquitted her of making a false mortgage application related to her purchase of a home […]

Governor Moore announces record-setting housing bond to support affordable, sustainable homeownership for first-time homebuyers

ANNAPOLIS, MD—Governor Wes Moore on Wednesday announced that the Maryland Department of Housing and Community Development issued the largest mortgage revenue bond in the agency’s history. The $400 million bond from the department’s Community Development Administration through the Residential Revenue Bond program generated tax-exempt and taxable bond proceeds that may be used to finance affordable, sustainable mortgage loans to first-time […]

Maryland settles with ACI Worldwide for unauthorized mortgage transactions from customer accounts

BALTIMORE, MD—The Maryland Department of Labor along with 43 state agencies across the nation have announced a legal settlement with ACI Worldwide for erroneously initiating electronic transactions for mortgage loans serviced by Mr. Cooper (formerly known as Nationstar Mortgage, LLC) from the accounts of 480,000 consumers throughout the United States. “We want all Maryland businesses and residents to understand the […]

Attorney General Brown announces $10 million multistate settlement with ACI Worldwide over attempted unauthorized withdrawals from consumer accounts

BALTIMORE, MD—Maryland Attorney General Anthony Brown has joined a coalition of 49 Attorneys General announcing a $10 million settlement with payment processor ACI Worldwide over a 2021 testing error that led to the attempted unauthorized withdrawal of $2.3 billion from the accounts of mortgage-holders. The settlement includes injunctive relief designed to prevent a similar incident in the future. ACI Payments, […]

Baltimore named worst real estate market in U.S., WalletHub study [VIDEO]

BALTIMORE, MD—With home values up around 1.0% in the past year and mortgage rates having continued to increase, the personal-finance website WalletHub this week released its report on 2023’s Best Real-Estate Markets. To determine the most attractive real-estate markets in the U.S., WalletHub compared 300 cities across 17 key metrics. Baltimore came in last place at No. 300 on the […]

Attorney General Frosh announces settlement with Caliber Homes

BALTIMORE, MD – Maryland Attorney General Brian E. Frosh this week announced that the Consumer Protection Division has reached a settlement with mortgage lender Caliber Homes, Inc. concerning its advertising practices. Caliber was accused of sending mailers to approximately 220,000 Maryland consumers between May 2019 through March 2021 that deceptively displayed on the mailer’s envelope the name and address of […]

Baltimore County business owner sentenced to prison for fraudulently obtaining federally insured loans

BALTIMORE, MD—A Baltimore County business owner has been sentenced to federal prison for fraudulently obtaining federally insured loans to sell two Baltimore properties he owned. U.S. District Judge Richard D. Bennett sentenced Philip Abramowitz, 50, of Pikesville, to one year in federal prison and one year of home detention, followed by three years of supervised release, for a wire fraud […]