Feds nab California man for $7 million foreclosure scam

Federal agents have arrested a California man alleged to have masterminded a foreclosure-avoidance scam that bilked victims of more than $7 million. Michael Henschel, 68, has been indicted on 11 counts related to orchestrating a bankruptcy fraud scheme that targeted distressed homeowners. According to prosecutors, Henschel owned a company that operated under several names. Through …

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AIG breaks into mortgage securitization big-time with high quality first offering

When American International Group sold its mortgage-guaranty unit United Guaranty to Arch Capital Group last year, the company said that it planned to turn to residential mortgages to make up for the loss in revenue from the sale of United Guaranty. But AIG didn’t start originating new loans. Rather, the company has been buying up high-quality jumbo mortgages, …

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Trump Wedding Planner, Recommended by Ben Carson, Appointed to Oversee HUD in NY, NJ

Amazing, the inexperience HUD head recommends an inexperience HUD candidate… Lynne Patton, a Trump Organization employee and Eric Trump’s wedding planner, might be the next head of the Department of Housing and Urban Development for New York and New Jersey. Patton does not have a background in public housing, but was recommended by Ben Carson, …

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