DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/84661
EXCELLENCE ABOVE AVERAGE BROKER IS NOT A SKILL IT'S AN ATTITUDE lice FHA lenders and ensure compliance with the agency's underwriting standards. SunTrust, along with MetLife and U.S. Bancorp, were reportedly subpoenaed to hand over material related to their FHA originations back in June. HUD has tar- geted a number of major banks with similar investigations, including Bank of America, Deutsche Bank, Citigroup, and Flagstar Bancorp—all of which have reached settle- ment agreements with HUD related to the agency's inquiry. News of the HUD investigation came HUD has stepped up efforts to po- defrauding investors who put money into the funds he managed and of wire fraud related to the embezzlement of $17 million from Montgomery Bank. Price was last seen on April 16, thought to be boarding a ferry off the Florida coast. He left behind a letter that investigators say reads like a suicide note. In the letter, Price admits to duping some 100 investors out of more than $40 million. Montgomery Bank & Trust was seized Connie D. Watson AusDanBrook Properties, Inc 11758 Hastings Bridge Rd Hampton, GA 30228 c: 404-453-3347 o: 678-723-5177 f: 404-591-5898 conniewatson1@gmail.com ausdanbrook.georgiamls.com shortly after SunTrust reached a $21 million settlement with the Justice Department for alleged biased loan origination practices between 2005 and 2009. The Justice Depart- ment alleged the bank discriminated against minorities by writing them loans with higher interest rates and fees than compa- rable non-minority customers. SunTrust did not admit to any wrongdoing. Atlanta Law Firm Celebrates 30 Years SERVING GWINNETT, HALL, FORSYTH, JACKSON & BARROW COUNTIES SPECIALIZING IN MAKING REO EASY. years of providing legal services to the mort- gage and real estate sectors on May 1. The Atlanta-based firm has actually been around for more than 30 years, but its specialty mortgage services started on May 1, 1982. Over the years, the firm has expanded McCalla Raymer, LLC, celebrated 30 WE DO MORE WORK SO YOU CAN DO LESS. throughout Georgia, Florida, and Alabama, allowing it to focus on regional needs while providing a consistent in-person presence in the courts and with clients. McCalla Raymer specializes in bankruptcy, foreclo- sure, REO, and eviction services. "This is an exciting milestone for any firm and we are looking forward to working with our clients and industry friends for an- other 30 years," said Marty Stone, the firm's managing partner. 366 REO transactions, totaling $43 million, SOLD in 2011 LARISSA K. BENSON/Broker The Service Team 2675 Mall of Georgia Blvd., Suite 102 Buford, GA 30519 o: 770-277-1922, f: 770-670-4264 lbenson@serviceteamga.com www.SellGeorgiaHomes.com Georgia Bank Closes After Director Disappears closure of Montgomery Bank & Trust in Ailey, Georgia, after the disappearance of the bank's director. The FBI has issued a warrant for Aubrey Lee Price, an investment advisor and the director of Montgomery Bank & Trust. Price is accused of The FDIC announced in mid-July the Editor@DSNews.com. 116 Help shape the next issue of DS News. Drop us a line at by state regulators after its capital levels fell below acceptable standards. Ameris Bank in Moultrie, Georgia, assumed $164.4 mil- lion in deposits from the failed bank and purchased $12.4 million of its $173.6 million assets. -37.92% STAT INSIGHT Atlanta's supply of homes Annual decrease in for sale in June. Source: Realtor.com THE INDUSTRY, FOR THE INDUSTRY DRIVEN BY