Big Picture: US housing trends & condo, HOA communities

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Multifamily apartment mortgage fraud investigation underway According to a report in Housing Wire, referencing the Wall Street Journal, the FBI, DOJ, and Inspector General of FHFA are investigating fraudulent activities of developers in New York and Pennsylvania. The federal agencies handed down indictments after gathering evidence that developers “Frank Giacobbe, Patrick Ogiony, Kevin Morgan, and Todd Morgan conspired to defraud Fannie Mae, Freddie Mac, Arbor Commercial Mortgage, and Berkadia Commercial Mortgage by faking much of Continue ReadingBig Picture: US housing trends & condo, HOA communities