Former BofA short-sales employee gets prison term for taking bribes

Former BofA short-sales employee gets prison term for taking bribes
Lauricella made false entries in Bank of America's computer system to make it appear that higher-ups had approved the short sales, Katzenstein said. When he pleaded guilty, Lauricella admitted approving fraudulent short sales for at least nine properties.
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Morning Watch List: Bank of America Corporation (NYSE:BAC), Authentidate
Bank of America Corporation (NYSE:BAC)'s Merrill Lynch division agreed to pay nearly $ 11 million and admit wrongdoing to settle charges it used inaccurate data in executing short sale orders. The U.S. Securities and Exchange Commission said some …
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Buying After Short Sale Waiting Period Extended Reports Broadview Mortgage Long Beach

Long Beach, CA (PRWEB) August 12, 2014

Fannie Mae recently announced a couple of really big changes to the Waiting Periods required to purchase a home after a financial hardship that resulted in either Foreclosure, Short Sale or Deed in Lieu of Foreclosure, reports Scott Schang, Branch Manager Broadview Mortgage Long Beach.

On July 29th, 2014 Fannie Mae made an unprecedented move to loosen up qualifying guidelines for borrowers that included mortgage debt in a bankruptcy by removing the waiting period for any foreclosure, short sale or deed in lieu of foreclosure that occurred after the mortgage debt was discharged through a bankruptcy, adds Schang.

Effective August 16th 2014, the ability to use the Bankruptcy date instead of a subsequent foreclosure date, does not appear to include pre-foreclosure events such as Short Sale or Deed in Lieu of foreclosure.

This change in policy seemed to be opposite of the simultaneous news that Short Sale or Deed in Lieu waiting periods are being extended.

For the past few years, Fannie Mae has treated pre-foreclosure events, Short Sale or Deed in Lieu of Foreclosure, differently than a foreclosure, says Schang.

With a 20% down payment, and a minimum 680 credit score, home buyers were able to buy in only 24 months from the completion date of the short sale or deed in lieu. For any loan applications taken after August 16th, 2014 this option goes away, reports Schang.

This is really the only change that could be construed as having a negative effect on new homebuyers trying to get back into the market after a pre-foreclosure event, adds Schang.

If home buyers had less than a 20% down payment, they could purchase using conventional financing with only 10% down, 4 years after a short sale or foreclosure with a minimum 680 credit score.

If a home buyer had a short sale or deed in lieu, the waiting period before being eligible to buy with conventional financing has been moved to 4 years.

However, the 4 year waiting period does not appear to come with the same loan to value and credit score restrictions as did the previous guideline. Homebuyer’s with a short sale or deed in lieu can buy in as little as 4 years with a minimum 620 credit score, and 5% down payment, reports Schang.

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Allied Real Estate Schools Expands Product Offerings with a New Notary Loan Signing Specialist Designation

Laguna Hills, CA (PRWEB) August 12, 2014

Allied Real Estate Schools, an accredited online career training school serving working and career-seeking adults and military service members throughout the world, has announced a new notary Loan Signing Specialist designation available to California students. The new designation allows students the opportunity to familiarize themselves with specific types of documents and terminology used in real estate and loan transactions.

With the government loosening the mortgage lending restrictions, the real estate industry has already started to see a bump in housing sales, creating a need for more jobs within the industry. These jobs include real estate agents, real estate brokers, mortgage lenders, loan signing specialists, home inspectors, and appraisers, among others.

“We are proud to support the recovery and growth in the housing market with the addition of the loan signing specialist designation,” said Allied Schools President, George Achenbach. “With the easing of lending regulations, our main goal was to provide potential and existing California real estate professionals the opportunity to enhance their skill set, especially in an extremely competitive job market. In particular, individuals who currently hold a California notary public commission may see a substantial increase in income by adding the loan signing designation to their service offerings,” he adds.

The new Loan Signing Specialist Designation is available to California-based students only as an online module for $ 88. Allied’s national real estate designations include Short Sale Specialist, eNetworking Specialist, Green Specialist, and FHA Specialist. Allied’s product offering also includes a Contract Forms Specialist designation available in California only.

Allied Schools is a nationally-accredited online career training school that offers a variety of different programs, including real estate, property management, pharmacy technician, medical coding and medical billing courses. Allied offers 100% online, convenient and flexible learning for today’s working adults, military service members and their families.

With over 1 million enrollments to date, Allied Schools has been a leader in online education since 1992. Allied Real Estate Schools has among the highest pass rates on state licensing exams in both California and Texas. For more information about Allied’s real estate course offerings, including the new loan signing specialist designation, please visit them online at or by phone at (800) 617-3513. Also, connect with Allied on social media at Facebook, Twitter, Pinterest, and LinkedIn.

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Doug Ottersberg, Real Estate Expert, to Speak at Traction Real Estate Investors Association in Maryland

Greenbelt, Maryland (PRWEB) February 22, 2015

Doug Ottersberg is a sought after real estate expert who will be speaking at a TRACTION Real Estate Investors Association meeting on February 25, 2015, at the Marriott Greenbelt in Maryland. TRACTION Real Estate Investors Association holds group meetings and training events that help investors of all levels go from ‘spinning their wheels’ to doing profitable real estate deals.

In the upcoming live event, Doug with be leading a seminar titled “Dream it. Do it. Live it. How to Live Your Life By Design.” He will be teaching the following concepts:

How to systematically produce high quality results for one’s business, relationships and health easily and consistently to enjoy the freedom and quality of life that one deserves
How to create a life vision the right way
The subtle difference that keeps the rich rich and the poor poor
A 4 step freedom producing income strategy that works every time
The #1 thing that causes people to stay stuck and what to do about it
The simple mind hack one can use to create instant confidence any time, any place
How to be sure one knows what’s really important to oneself
How to be sure one has the time to get done what’s really important to oneself
And much, much more!

The TRACTION Real Estate Investors Association event will begin at 6 p.m. on Wednesday, February 25, 2015, at the Marriott Greenbelt, located at 6400 Ivy Lane, Greenbelt, MD 20770. This meeting is open to the public.

About TRACTION Real Estate Investors Association

TRACTION REIA supports real estate investors of all levels in Washington, DC, Northern Virginia, and Maryland. At their monthly real estate investor association meetings and real estate investing training events, one will learn about a variety of topics, including: flipping houses, rehabbing, renovating, landlording, tenant management, wholesaling, commercial, apartment building investing, self storage unit investing, foreclosures, short sales, bank owned properties, buying notes, flipping notes, real estate legal & tax issues, self-directed IRA investing, subject-to, Sub2, rentals, buy-and-hold, lease options, lease purchase, mindset, marketing for real estate deals, how to quit one’s job, business skills, entrepreneurship, real estate investing systems, and much more!

TRACTION Real Estate Investors Association (REIA) serves real estate investors in the Greater Washington, DC Metropolitan Area, including, but not limited to: Washington DC investors, Northern Virginia investors, Manassas Park, Stafford, Fairfax City, Fairfax investors, Maryland investors, Montgomery, Prince Georges, PG, Bowie, Upper Marlboro, Anne Arundel, Baltimore, Baltimore City, St. Marys, and Annapolis investors.

Info (at) TractionREIA (dot) com

Phone: 202-558-6508

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Boss Law Announces New Complimentary Consultation For Florida Bankruptcy Assistance

(PRWEB) August 11, 2014

Boss Law, the premier Florida bankruptcy law firm, is pleased to announce its new complimentary consultation for consumers in Florida, interested in getting a risk free consultation can visit

Victims of bankruptcy, and debt, are eligible for a complimentary consultation 24/7. At Boss Law, our law firm’s main priority is to provide consumers with experienced and aggressive legal representation. Boss Law can help victims with areas of practice such as bankruptcy, debt relief, foreclosure defense, loan modification, short sales, and other forms of debt relief.

About Protect Your Future

Boss Law, P.L., a professional limited liability company, that practices in several areas of the law including foreclosure defense, Chapter 13 bankruptcy, Chapter 7 liquidation/bankruptcy, residential and commercial short sales, contract and lease review, title insurance, creditor harassment as well as debt settlement & consolidation. The firm was founded in November 2004 in Tampa. Since then our firm has moved to a larger office located at 9800 Fourth Street North, St. Petersburg, Florida, 33702. Along with the attorneys at Boss Law our dedicated staff can assist you through what can be a very difficult process.

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Top Producing Real Estate Agent, Amy Hoffman, Specialist in Home Sales in Northeast Los Angeles and San Gabriel Valley, Launches New Website

Pasadena, CA (PRWEB) September 24, 2014

Real estate agent Amy Hoffman, in association with Pasadena-based Berkshire Hathaway Homes, has released a new, state-of-the-art website featuring home listings in communities in Northeast Los Angeles and the San Gabriel Valley. The website features branding that reflects Hoffman’s expertise in assisting both buyers and sellers in purchasing and selling the character homes unique to these communities.

Hoffman provides service in Eagle Rock, Highland Park, Mt. Washington and Pasadena, CA and brings specialized knowledge of the Victorian, Tudor revival, California craftsman and bungalows and Spanish revival homes inherent to those neighborhoods. According to Hoffman, whose background lies in home improvement and home decor, buyers and sellers of vintage homes stand to benefit from hiring an agent with her knowledge and expertise.

“I understand how to keep a classic home classic,” said Hoffman. “I can provide insight into proper maintenance needed to preserve a home’s historic character, its value and also the value and character of the neighborhood as well. These are small-seeming but important matters to keeping home values high and a buyer’s investment profitable.”

The website and branding were designed by BrightBulb Solutions, a local full service boutique marketing agency. BrightBulb was retained to design an advanced website that reflected the unique spirit and culture of the communities represented by Hoffman. Banners and promotions feature classic turn of the century homes built from 1890 up to mid-century modern homes built through the 50’s.

“I wanted to create a website that captures, in both look and feel, the Arts and Crafts Movement that influenced the architects who gave these particular homes and neighborhoods the character they are so admired for,” stated Hoffman. “In these communities, we’re seeing buyers who are drawn to these areas not because they have the best schools or because their jobs are in close proximity, but because they appreciate the beauty of these neighborhoods and want to live in them.”

Hoffman, who has earned certifications for her skill in short sales, contract forms and sustainable green homes, is a longtime resident of Eagle Rock, CA, a community recently named by Redfin as “the second hottest neighborhood” in the United States. Aside from representing home sellers and buyers, Hoffman offers commercial real estate services including sales and leases.

The website further features Hoffman’s exclusive listings, an MLS search, information for buyers and sellers, short sales, house flipping, property search, mortgage calculator, client testimonials and a one-of-a kind resource library of articles related specifically to buying and selling homes in these uncommon neighborhoods.

“The website is warm and inviting, which reflects our friendly and expert approach to client service,” stated Hoffman. “But more important, it is technical and state of the art, which shows not only our commitment, but our abilities to use the most advanced technologies to properly market homes for sale, or to find the perfect home for a buyer. When I look at the website, I see me and my values looking back at me.”

Amy Hoffman’s website may be viewed at