May a trustee retain surplus funds from a foreclosure sale while a wrongful foreclosure action is pending?
Placer Foreclosure, Inc. v. Aflalo Facts: A homeowner obtains a mortgage from a lender, which is...
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Tag: lender
Does a cost of savings index (COSI) substitution require affirmative approval from a lender’s regulator?
Campidoglio LLC v. Wells Fargo & Company Facts: A borrower obtains a mortgage from a lender....
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Everything you need to know about USDA mortgages
The Single Housing Guaranteed Loan Program assists approved lenders in lending to rural homebuyers by providing a high level of government guarantee for approved mortgages.
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Is a purchaser of a mortgage liable for the conduct of the lender who sold but continues to service the mortgage?
An owner refinances their mortgage secured by a trust deed on their property and establishes an impound account for the payment of homeowner’s insurance.
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ITIN mortgages for homebuyers without social security numbers
Tips for ITIN homebuyers and agents.
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All about hazard insurance proceeds
Learn about the lender’s ability to apply the proceeds from a hazard insurance claim to the balance due on the loan or release the proceeds from a hazard insurance claim to the owner to rebuild improvements.
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May a lender foreclose on an owner’s abandoned property when an automatic stay is in effect during the owner’s bankruptcy filing?
Facts: An owner of a commercial property filed for chapter 7 bankruptcy protection as the property...
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The votes are in: common lender issues, exposed
How can the closing process be more manageable for homebuyers?
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Small lenders fear QM
The CFPB recently issued more parameters for the evolving QM standard.
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Buyers want better customer service
34% of potential homebuyers said they would be willing to pay a higher interest rate if…
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Frannie buy-back risk lessened, sort of
Fannie Mae and Freddie Mac (Frannie) have answered the cry of lenders to reduce the risk of buy-backs. Buy-backs, also known as put-backs, occur when Frannie requires the lender to repurchase a loan it made which contains underwriting flaws.
Under recently revised Frannie rules, buy-backs on loans originated on and after January 1, 2013 will have…
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Guarantor not liable for loan deficiency when event causing loan to become recourse is not triggered
Facts: A borrower entered into a loan with a lender to purchase rental property to lease to a...
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FHA rescinds ill-conceived collection accounts rule
The Federal Housing Administration (FHA) recently rescinded its more stringent requirements for...
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To property managers: a new client on the block
This article presents the Federal Reserve’s new rental policy for REOs, and encourages brokers to tap the new client base created by this policy.
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Lessons on the Fed: Ben Bernanke’s classroom
In a course titled “Reflections on the Federal Reserve and Its Place in Today’s Economy”, Ben...
Read MoreBetter lender bureau will accept your mortgage grievance
Who do you think should be responsible for receiving and resolving mortgage complaints from home loan borrowers? Government agencies – the Consumer Financial Protection Bureau (CFPB) is an important mediator (57%, 41 Votes)...
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Appraisal management to the rescue?
Appraisers who were under third-party contract with appraisal management company (AMC)...
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Strategic default smarts
This article reviews a newly-developed Fair Issac Company (FICO) analytics model which predicts a borrower’s likelihood to exercise a strategic default and revisits the financial advantages of a strategic default for a negative equity homeowner.
Read MoreBabies and mortgages, mingle with discretion
The U.S. Department of Housing and Urban Development (HUD) is taking action against mortgage companies who discriminate against expectant mothers applying for a loan or home mortgage insurance. Multiple investigations of lending...
Read MoreExtreme makeover: a simpler good-faith estimate
The Consumer Financial Protection Bureau (CFPB) revealed its first two prototypes for a simpler mortgage disclosure form which the fledgling agency hopes will alleviate lender costs and borrower confusion. In spite of the CFPB’s...
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