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Tag Archives: Citigroup

Nine Alleged, Convicted in Mortgage Fraud Cases

Another week rolled by with more instances of mortgage fraud, as reported by several news outlets from around the country. Defendants alternately received indictments, pled guilty, and submitted to their sentences from courts as a result of allegations and convictions stemming from mortgage fraud conspiracy, wire fraud, and money-laundering activities. The alleged activities resulted in millions of dollars in fraudulently obtained money from lenders.

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Fall Bond Sale by Big Banks Set

Big lenders are set to unload up to $5 billion in commercial mortgage bonds, with planned securities offerings scheduled in September and October. Participating financial institutions include Goldman Sachs Group Inc., Citigroup Inc., Bank of America Corp., Morgan Stanley, Wells Fargo & Co., Royal Bank of Scotland Group Plc, and JPMorgan Chase & Co. The upcoming bond sales are largely attributed to the effects of struggling U.S. employment numbers, the European debt crisis, and the resistance against debt.

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Experts: Future for CMBS Markets Still Mixed

Even as economic uncertainty and fears of a double-dip recession continue to rile the markets, some say that commercial mortgage-backed securities, recently on a downdraft, could either slowly recover over 2011 or see a fallback. According to experts, ongoing concerns about debt crises overseas and at home could dent a rebound for the CMBS markets. Stories by Bloomberg News, Retail Traffic magazine, coupled with data from Trepp Inc. and Barclays Capital, portray gray skies for CMBS.

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