DBO Bulletin Digest August 2019
Your August 2019 DBO Bulletin digest
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Tag: mortgages
Is a trustee for a mortgage-in-default considered a debt collector?
Facts: A homebuyer obtains a mortgage secured by a trust deed on their property. The buyer...
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POLL: How many buyers take title to a property subject to an existing mortgage?
How many of your buyers take title to a property subject to an existing mortgage? 5% or fewer....
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POLL: How often are your financed deals killed by low appraisals?
How often are your financed deals killed by low appraisals? Occasionally, but not on most deals....
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Land sales contracts are duping homebuyers
Investment firms are using dubious seller financing to profit from low-income buyers.
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Keep Your Home California — it came too late and stayed too long
Keep Your Home California has been extended with an addition of $383.3 million in federal funding this year.
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Top 10 reasons investors reject TRID mortgages
The most common reasons investors refuse to buy mortgages in the secondary mortgage market are highlighted in this list published by the authoring attorney of TRID rules.
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Client Q&A: What are discount points?
Use this first tuesday FARM Letter Info-Flyer with your existing clients to provide a clear,...
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May a junior lien on a property be extinguished in Chapter 7 bankruptcy when the debt on the senior lien exceeds the property’s FMV?
Bank of America v. Caulkett Facts: A homeowner obtains two mortgages to fund their purchase of a...
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First-time homebuyers overestimate costs of homeownership
Where do these alleged homeownership costs come from, and how long will they keep potential first-time homebuyers away from the housing market?
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From mortgage burning to housewarming: A history
You may have heard of mortgage burning parties – but where are they today? The mythical beast of debt-free homeownership may not be so far as you think from today’s homeownership culture.
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POLL: Homeowners and mortgage debt
In today’s market, homeowners are more likely to: keep their homes and pay off their mortgages....
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HAMP and consumers continue to flail, banks continue to profit
Less than one million homeowners have received assistance under the Home Affordable Modification Program (HAMP), six years after its creation.
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The votes are in: buyers are ditching the 20% down payment
We asked first tuesday readers whether homebuyers with down payments less than 20% were growing in number or dwindling.
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FARM: Pay off your mortgage sooner
Use this first tuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a...
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FARM: First-time homebuyer programs
Use this first tuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a...
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Big mortgage servicer owes $268 million to California homeowners
Mortgage servicer Ocwen Financial Corp. was ordered to pay $268 million in principal reductions and nearly $23 million in reimbursements to California homeowners foreclosed on between January 1, 2009 and December 31, 2012.
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A CFPB surge in mortgage-related complaints
The Consumer Financial Protection Bureau (CFPB) has its hands full. Its latest undertaking: fielding a wave of complaints from consumers burned by mortgage lenders.
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