POLL: How does deregulation of mortgage lending affect homebuyer demand?
This week’s poll inquires about deregulation in lending and the impact on demand.
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Tag: lending
Different Treatment is Discrimination
Covers: Illustration of different lending treatment provided to a protected class of borrowers; Recovery under the Equal Credit Opportunity Act; Federal Housing Administration (FHA). More information about this topic is available @ firsttuesdayjournal.com.
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The exclusive right-to-borrow listing – a loan broker’s written fee agreement
first tuesday form of the week: The Loan Broker Listing — Exclusive Right to Borrow
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Mortgage loan brokers: What to know about “know before you owe”
We dissect the CFPB’s new forms and offer a solution to their shortcomings.
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Credit reporting agencies may be pursued for preventing consumers’ access to credit reports
Prosecutors may pursue credit reporting agencies if the agencies attempt to prevent landlords or tenants from providing consumers with copies of their credit reports.
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Does a loan servicer have a duty to respond to letters challenging loan terms and requesting modification?
Owners sent three letters challenging the validity of the loan terms and requesting modifications to the loan servicer. The loan servicer did not respond to the letters.
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Did a lender improperly foreclose after issuing a written rejection of a loan modification and verbally informing the owner the modification was pending?
A homeowner defaulted on their loan and applied for a loan modification. The lender sent the homeowner a written denial of their loan modification application.
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Good credit, bad credit and credit repair
In the wake of the financial crisis, hundreds of thousands of Californians saw their credit scores drop. Credit repair organizations began targeting these individuals with false promises of solvency.
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The lenders are watching
They know what you bought last summer — if you put it on credit Since the housing crisis of the...
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As BofA’s mortgage share shrinks, will small banks pick up the remains?
Bank of America (BofA) has sold the servicing rights to two million loans it serviced. The sale reduces their loan servicing business by…
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Homebuyer purchasing power pushes the recovery
This Market Chart presents a comprehensive overview of homebuyer purchasing power vacillation over the last two decades of declining rates, and predicts future trends as mortgage rates rise.
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Lender’s possession of note and contact information on the NOD not required to start foreclosure
Facts: A homeowner took out a loan, executing a note secured by a trust deed, then later went into...
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Put away your put-backs, Frannie
Originating a home loan imposes a degree of risk on the lender, the stakes of which are made all...
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Critics demand fewer HARP 2.0 restrictions
Do you personally know any borrowers who received a HARP 2.0 refinance? No (85%, 79 Votes) Yes...
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first tuesday case in point: The judicially created doctrine of unconscionability
This case in point explores the doctrine of unconscionability, a judicially created shield against predatory lending, as viewed through the recent case decision, Lona v. Citibank.
Read MoreARM lender inadequately disclosed negative amortization
A homeowner refinanced his home by taking out an adjustable rate mortgage (ARM). The loan documents contained a disclaimer stating the interest rate and monthly payment on the ARM may increase over the life of the loan, and...
Read MoreLike myths, this old dream will never die
Do you believe homeownership is an important part of the American Dream? Yes (80%, 105 Votes) No (20%, 26 Votes) Total Voters: 131 Who cares about financial crises of historic proportions, a feeble and ravaged real estate market...
Read MoreStrict lending is good for you and the economy
The ten largest lenders in the nation approved 73% of mortgage loan applications submitted to them in 2010, down from 77% in 2009, according to an analysis by the Wall Street Journal. Loan approvals in California for 2010 were...
Read MoreA lender’s misrepresentation of a loan agreement’s content allows the property owner to recover
A property owner arranged a loan modification agreement with a lender holding a trust deed on his property. The lender prepared a written loan modification agreement which extended the property owner’s loan term in exchange for...
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The era of the financially illiterate homebuyer
This article examines how a homebuyer’s financial illiteracy affects his chances of losing his home by foreclosure, and the need for selling agents to educate their buyers about the mortgage decisions they make.
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