During Obama’s presidential term, exercising his clemency authority is one of his top priorities. He has grant clemency to significantly more people than any other president had. In his recent clemency sweep, he granted 153 commutations and 78 pardons. It is the highest number of clemency grants done in a single day by any US president in history.
Obama includes handful of bank fraud pardons in major clemency sweep
This brings Obama’s total commutations to 1,176 individuals and the total number of pardons to 148 individuals. “Today’s acts of clemency — and the mercy the President has shown his 1,324 clemency recipients — exemplify his belief that America is a nation of second chances,” the White House stated in a press release… Read more at HousingWire.com
Unfortunately for real estate investors, mortgage fraud is a national epidemic that is a direct peril to the real estate industry and housing market. Trends doesn’t matter, strategic programs will be used to manipulate the system due to the unstable real estate market conditions and government programs.
Reverse Occupancy Fraud Threatens Housing Market
Subject properties sold as investments, first-time homebuyers with no or minimal credit, low-income purchasers with liquid asserts verified by bank statements, and purchasers who make large down payments are warning signs that are usually attributed to reverse occupancy schemes. The report examined investment purchase mortgage applications over the last five years and… Read more at DSNews.com