SEC fines First Mortgage $12.7M, bans 6 execs for defrauding Ginnie Mae investors --

Several senior executives at First Mortgage Corporation lied about the performance of the mortgages the company originated so they could pull the mortgages out of mortgage-backed securities guaranteed by Ginnie Mae, then turn right back around and sell the mortgages back into new mortgage bonds, defrauding investors out of $ 7.5 million, the Securities and Exchange Commission said Tuesday.

Case-Shiller: Home prices rising twice as fast as inflation --

The Dow Jones Case-Shiller Home Prices Indices show that not only do prices continue to rise, but they are actually rising at double to rate of inflation. Here’s what that means for both buyers and sellers, with added commentary from Quicken Loans and Zillow experts.

FHFA: Home prices increase again, rise 1.3% --

While home prices only increased a meager 1.3% in the first quarter of 2016, it’s added onto a long string of increases; 19 consecutive quarterly price increases to be exact. According to FHFA Supervisory Economist Andrew Leventis, there is at least one unique factor in this quarter.

Here’s a breakdown of home prices in the 4 largest states --

Home prices nationwide increased in February, albeit a slight 1.2% increase, with the four largest states staying within the same range. Here’s an extra break down of home prices in the four largest states.

AAG brings jumbo reverse mortgage program to California --

Last year, American Advisors Group, an Orange, California-based reverse mortgage lender, unveiled a jumbo reverse mortgage program, called the AAG Advantage. The AAG Advantage program initially launched in select states through the company’s retail channel in September. Now, the company is making the AAG Advantage program available to its wholesale partner network in California.

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