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Real Estate News: Real Estate Investing Podcast

Don’t get caught off guard by market crashes that can take all your money down with them. And don’t miss out on markets where you can build wealth practically overnight. Real Estate News for Investors with Kathy Fettke is the premiere source for savvy real estate investors who want the edge. Stay up-to-date on new laws, regulations, and economic events that affect real estate. Topics include: market trends, economic analysis that affects housing prices, updates on the best rental markets for investing in single-family rentals or multi-unit rentals, turn-key housing standards, the fate of the highly revered 1031 exchange and other tax law affecting investors, self-directed IRA investing and 401k changes, where rents and property values are rising or falling, flipping risks, new Dodd-Frank rules regarding private lending and financing standards, areas with job losses vs job growth, areas that are overbuilt or over-supplied versus areas with low supply and high demand, and how to avoid real estate scams. We'll bring you the latest reports from organizations like the National Association of Realtors, Realty Trac, Fannie Mae, Freddie Mac, Zillow, Trulia, Redfin, Rent Range, Property Radar, the Norris Group, Peter Schiff, Robert Kiyosaki’s Rich Dad, Suse Orman, Bigger Pockets, Dave Ramsey and more. And we'll help you interpret the data in terms that make sense for your real estate goals, and portfolio. Grow and protect your wealth by staying on the forefront of economic data analysis, expert opinions, innovative investing strategies and profitable investment opportunities. We'll share all the top real estate news stories and the best trade secrets investors should know, so you can stay ahead of the curve and make fully informed real estate decisions. Host Kathy Fettke is Co-CEO of the Real Wealth Network, author of Retire Rich with Rentals and host of the Real Wealth Show on iTunes. She brings decades of media and real estate investing experience, offers her own viewpoints on particular topics, and taps into her network of real estate experts for real world news updates created just for investors like you. Get the real news on real estate on The Real Estate News For Investors Show!
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Apr 19, 2016

Some banks may be too big too fail, but thankfully they are not too big to pay for their mistakes… or at least a portion of them.

In what is being called the largest recovery in FHA history, Wells Fargo has agreed to a $1.2 billion settlement for loan origination violations between 2001 and 2010.

According to a press release from the Department of Justice, Wells Fargo admitted, acknowledged and accepted responsibility for certifying to the Department of Housing and Urban Development that certain residential home mortgage loans were eligible for FHA insurance when, in fact, they were not. When some of those loans defaulted, the government had to pay those FHA insurance claims.

In the resulting claim, the government accused Wells Fargo of misleading HUD into believing it’s loans qualified for FHA insurance and sought damages and civil penalties under the False Claims Act.

According to an article in HousingWire, Wells Fargo attempted to dismiss the claims back in October 2012, but a judge denied it.

HUD Secretary Julián Castro said, “This Administration remains committed to holding lenders accountable for their lending practices. The $1.2 billion settlement with Wells Fargo is the largest recovery for loan origination violations in FHA’s history. Yet, this monetary figure can never truly make up for the countless families that lost homes as a result of poor lending practices.”

How did Wells Fargo get away with at least $1.2 billion infractions?

Get the full transcript at www.NewsForInvestors.com.

While the 30 year fixed rate mortgage may not be good for banks, it’s great for investors and homeowners. You can lock in a fixed payment for 30 years when rents and home prices are increasing every year.

And people with good credit, low debt-to-income ratios and reserves can qualify for up to 10 investor loans at today's record low interest rates.

If you would like a list of lenders who come highly recommended by our members, join the network at www.NewsForInvestors.com

The post #048 – Wells Fargo Settles at $1.2 Billion for Alleged Mortgage Fraud appeared first on Real Wealth Show | Real Estate Investing | Turnkey Rental Property | Cash Flow | Notes | Private Lending | Flipping | Wholesaling.

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