Tag Archives: new york news

Over 2,000 Erie and Niagara County Homeowners Aided Through Homeowner Protection Program

(Source: Attorney General Eric T. Schneiderman) – Attorney General Eric T. Schneiderman last Friday announced that his office’s Homeowner Protection Program (HOPP) has served 24,000 New Yorkers statewide in less than a year and half, resulting in 6,660 approved and pending loan modifications. Of those homeowners, 1,519 reside in the counties of Erie and Niagara; […]

BofA Settlements with FHFA and NY Attorney General Announced

(Source: Bank of America) – Bank of America today announced it reached a settlement with the Federal Housing Finance Agency (FHFA) as conservator of Fannie Mae and Freddie Mac to resolve all of FHFA’s residential mortgage-backed securities (RMBS) litigation with Bank of America, as well as other legacy contract claims.

NY Governor Cuomo Receives Much Political Support to Cut State Property Taxes

(Source: Governor Cuomo) – Governor Andrew M. Cuomo today announced support from more than 260 local elected officials for his plan to cut property taxes. The Governor’s proposal to cut property taxes and encourage local governments to reduce costs was detailed by Lieutenant Governor Robert Duffy during an event earlier today at the Chemung County […]

Demolished Homes to Help Create Open Space for Buffers That will Help Protect Against Future Flooding

(Source: Department of Environmental Conservation) – A new, streamlined permitting process will expedite the demolition and removal of homes and ancillary structures that were damaged or destroyed by Hurricane Sandy, the State Department of Environmental Conservation (DEC) announced today. The General Permit in support of the State’s Community Development Block Grant – Disaster Recovery (CDBG-DR) […]

NY Governor Cuomo Has Support From 175 Elected Officials to Cut Property Taxes

(Source: Governor Andrew M. Cuomo) –  Governor Andrew M. Cuomo yesterday announced support from 175 local elected officials for his plan to cut property taxes. The Governor also detailed his proposal to cut property taxes and encourage local governments to reduce costs earlier today at Mohawk Valley Community College in Oneida County.

Former NY RMBS Trader Convicted by Federal Jury of Defrauding TARP

(Source: FBI) – Deirdre M. Daly, United States Attorney for the District of Connecticut; Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); and Patricia M. Ferrick, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that a federal jury in New Haven has […]

NY AG Schneiderman Releases Op-ED That Covers the Success of Homeowner Assistance Programs

(Source: Attorney General Eric T Schneiderman) — Across our state, cities and towns still suffer from the crash of America’s housing market that sent our economy into freefall. The downward spiral of foreclosures, abandoned homes, declining property taxes and destabilized neighborhoods has taken an enormous toll on municipalities statewide.

$457 in Snap Benefits for Nearly 300,000 NY Households to be Preserved

(Source: Governor Cuomo) — Governor Andrew M. Cuomo today announced that New York State is taking steps to preserve approximately $457 million a year in Supplemental Nutrition Assistance Program (SNAP) benefits that would otherwise be cut by the recently enacted federal Farm Bill. The bill was slated to cut SNAP benefits an average of $127 […]

Sullivan County Hedge Fund President to Serve Over 5 Years in Prison for $12 Million Securities Fraud Scheme

(Source: FBI) – Preet Bharara, the United States Attorney for the Southern District of New York, announced today that Llyod Barriger, former president and principal shareholder of the Gaffken & Barriger Fund LLC (the “fund”), which was a hedge fund based in Monticello, Sullivan County, New York, was sentenced today in White Plains federal court […]

“No Excuses” Initiative in NY to Help Cut Property Taxes

(Source: Governor Cuomo) –  Governor Andrew M. Cuomo launched the “No Excuses” push, designed to help pass proposed property tax cuts for millions of New Yorkers. The initiative includes a new website, www.CutPropertyTaxes.ny.gov, featuring information on the Governor’s plan to cut property taxes, statements of support from elected officials and advocacy groups across the state […]

NY Governor Cuomo Announces the First Ever Long Island Banking Development District

(Source: Governor Cuomo) – Governor Andrew M. Cuomo today announced the approval of the Brentwood neighborhood in the Town of Islip (Suffolk County) as a Banking Development District (BDD) – the first-ever BDD on Long Island. This BDD designation for Brentwood provides financial incentives – such as the potential deposit of state funds in area […]

Governor Cuomo Announces Housing Protections for Low Income Residents with HIV/AIDS

(Source: Governor Andrew M. Cuomo) –  Governor Andrew M. Cuomo and Mayor Bill de Blasio today announced a new affordable housing protection for low-income New Yorkers living with HIV/AIDS. With today’s announcement, New Yorkers who are permanently disabled by HIV/AIDS and receive rental assistance will pay no more than 30 percent of their income toward […]

Federal Home Loan Bank of New York Releases Full Financial Results for 2013

(Source: Federal Home Loan Bank of New York) –  The Federal Home Loan Bank of New York (the “FHLBNY”) today released its unaudited financial highlights for the quarter and year ended December 31, 2013.  In the fourth quarter of 2013, the FHLBNY earned $88.8 million in net income, an increase of $4.9 million, or 5.8 […]

Morgan Stanley Settles to Pay $625 Million to Fannie Mae and Freddie Mac

(Source: FHFA) – The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Morgan Stanley, related companies and specifically named individuals for $1.25 billion. The settlement resolves claims in the lawsuit FHFA v. Morgan Stanley, et al. in the U.S. District Court of […]

NY Governor Cuomo Announces $50 Million for Home Energy Assistance Program

(Source: Governor Andrew M. Cuomo) –  Governor Andrew M. Cuomo today announced that the Federal Government has released additional Low-Income Home Energy Assistance Program (LIHEAP) funding, increasing New York’s total for the 2013-14 heating season to more than $366 million. The additional funding will enable New York to continue operating the regular benefit component of the […]

New York AG Announces Settlement Made to New Yorkers for Illegal Online Loans

(Source: Attorney General Eric T. Schneiderman) – Attorney General Eric T. Schneiderman today announced that his office has reached a settlement agreement with Western Sky Financial, LLC, CashCall, Inc., WS Funding, LLC, and their owners, Martin Webb and J. Paul Reddam, for violations of New York’s usury and licensed lender laws in connection with personal […]

Rochester Man Sentenced to Nearly 4 Years in Prison for Conspiracy to Defraud Lenders

(Source: FBI) – U.S. Attorney William J. Hochul, Jr. announced on Friday that Kenneth Griffin, 46, of Rochester, New York, who was convicted of conspiracy to commit mail and wire fraud and conspiracy to engage in money laundering, was sentenced to 46 months in prison by U.S. District Judge Frank P. Geraci.

Bank of New York Mellon Selected as Master Servicer/Trustee for CDFI Bond Guarantee Program

(Source: CDFI Fund) –  The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it has selected The Bank of New York Mellon (BNY Mellon) to serve in the capacity as Master Servicer/Trustee for the CDFI Bond Guarantee Program. BNY Mellon will subcontract with Midland Loan Services – a […]

Governor Cuomo Allocates $23 Million Towards 600 Affordable Housing Units

(Source: Governor Cuomo) –  Governor Andrew M. Cuomo today announced 10 awards totaling $23.7 million to create or preserve high quality affordable housing and spur economic growth in regions around the state, awarded through New York State Homes and Community Renewal (HCR).