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The policy change allows the City to invest in mortgage backed securities where the underlying mortgages are for properties that are “naturally occurring affordable housing” (NOAH) properties in Minneapolis. Naturally occurring affordable housing generally refers to unsubsidized multifamily rental housing affordable to households with incomes at or below 60 percent of the area median income ($51,480 for a family of four.)

Congressman Tom Emmer (MN-06) introduced the Home Mortgage Disclosure Adjustment Act which will help American families by providing regulatory relief for roughly 3,400 small banks and credit unions.

Sen. Richard Blumenthal (D-CT) and Rep. Keith Ellison (D-MN) introduced the Permanently Protecting Tenants at Foreclosure Act of 2015 (H.R. 1354) today. The bill ensures expired federal protections for renters living in foreclosed properties are renewed.

Rep. Keith Ellison (D-MN) released the following statement today as unemployment insurance expires for 1.3 million Americans:

Reston, Virginia, August 27, 2013— MERSCORP Holdings, Inc. announced that the United States District Court for the District of Minnesota yesterday dismissed a lawsuit filed earlier this year by Ramsey and Hennepin Counties on behalf of themselves and all other Minnesota counties (the Counties), ruling in favor of MERSCORP Holdings, Inc., Mortgage Electronic Registration Systems, Inc. (MERS) and numerous other MERS® System members

There is no merit to the claims against MERSCORP Holdings, Inc. and Mortgage Electronic Registration Systems, Inc. (MERS) made today by Ramsey and Hennepin Counties in Minnesota. All MERS mortgages are recorded in the county land records and all required fees are paid.

MINNEAPOLIS - February 5, 2013 - (RealEstateRama) -- Earlier today in federal court, two mortgage loan officers were sentenced for recruiting straw buyers to purchase properties at inflated prices and then distributing the excess loan funds among themselves, the straw buyers, and others involved in the scheme. United States District Court Judge Joan N. Ericksen sentenced Chad Arthur Anderson, age 39, and Troy Allen Huston, age 43, both of Chisago City, to federal prison terms of 60 months and 57 months, respectively, on one count of conspiracy to commit mortgage fraud through the use of interstate wires. They also were ordered to pay more than $4.8 million in restitution. The two were indicted on April 3, 2012, and pleaded guilty on August 13, 2012

MINNEAPOLIS - August 15, 2012 - (RealEstateRama) -- Yesterday in federal court, two mortgage loan officers pleaded guilty to recruiting straw buyers to purchase properties at inflated prices and then distributing the excess loan funds among themselves, the straw buyers, and others involved in the scheme. Chad Arthur Anderson, age 38, and Troy Allen Huston, age 42, both of Chisago City, pleaded guilty to one count of conspiracy to commit mortgage fraud through the use of interstate wires. The two were indicted on April 3, 2012, and entered their pleas before United States District Court Judge Joan N. Ericksen.

MINNEAPOLIS - July 16, 2012 - (RealEstateRama) -- A federal indictment recently unsealed charges an Inver Grove Heights man in connection with soliciting buyers to purchase properties at inflated prices in a multi-million-dollar mortgage fraud scheme. On July 11, 2012, Christopher Jon Andrews, age 53, was charged with one count of conspiracy to commit mail and wire fraud, four counts of mortgage fraud through interstate wire, and three counts of mortgage fraud through mail. The indictment, which was filed on July 10, 2012, was unsealed following Andrews’s initial appearance in federal court.

MINNEAPOLIS, MN - April 3, 2012 - (RealEstateRama) -- Earlier today in federal court, a 37-year-old Savage man was sentenced for participating in a $13 million mortgage fraud scheme that involved no fewer than 25 properties in Prior Lake, Savage, and Minnetonka, among other Minnesota communities. United States District Court Judge Ann D. Montgomery sentenced Ericvan Anthony McDavid to 45 months on one count of wire fraud. He was indicted, along with two co-defendants, on June 15, 2010 and pleaded guilty on January 26, 2011.

MINNEAPOLIS, MN - October 19, 2011 - (RealEstateRama) -- Earlier today in federal court, a Minnesota couple was indicted in connection with a $5 million mortgage fraud scheme. James Warren Hoffman, age 51, and his wife, Teresa Gay Hoffman, age 52, both of Stillwater, were indicted on one count of conspiracy to commit mortgage fraud through the use of interstate wire and nine counts of mortgage fraud through interstate wire.

MINNEAPOLIS, MN - October 17, 2011 - (RealEstateRama) -- Earlier today in federal court in St. Paul, a 45-year-old Burnsville man was sentenced for conspiring with others to bilk mortgage lenders out of more than $43 million. United States District Court Judge Richard H. Kyle sentenced Troy David Chaika to 102 months in prison on seven counts of wire fraud, three counts of mail fraud, and one count of conspiracy to commit wire fraud and mail fraud. Chaika was indicted on April 12, 2010, and was convicted by a jury on May 24, 2011.

MINNEAPOLIS, MN - October 12, 2011 - (RealEstateRama) -- To date in 2011, more than a dozen people have been charged federally with mortgage fraud and related crimes in the District of Minnesota. These complex cases are the result of lengthy investigations by federal agents, in particular, Special Agent Andy Gibart of the Internal Revenue Service’s Criminal Investigation Division (“IRS-CID”), Special Agent Jennifer Khan of the Federal Bureau of Investigation, and Inspector Christine Kroells of the United States Postal Inspection Service (“USPIS”).

MINNEAPOLIS, MN - September 29, 2011 - (RealEstateRama) -- Earlier today in federal court in St. Paul, a 28-year-old Webster man was sentenced for bilking more than $7 million from at least 15 real estate mortgage lending companies between 2005 and 2008. U.S. District Court Judge Richard H. Kyle sentenced Dustin LaFavre to 48 months in prison on one count of conspiracy to commit mail and wire fraud. LaFavre was charged on November 5, 2009, and pled guilty on December 7, 2009.

Golden Valley, MN - September 15, 2011 - (RealEstateRama) -- As Renters Warehouse continues to grow, promoting internal staff and selecting a President and COO will encourage more scalability and increased efficiency for the company.