Archive for the ‘Mortgage Laws’ Category
Friday, August 22nd, 2008
Do you ever miss the feeling you get when you go to your parents' house? Somehow those weird ceramic owls that your mom made in the 1970s and those awesome stickers that you used to decorate your dresser all worked in creating that comfort that you only can get when ...
Posted in Housing Options, Mortgage Laws, Real Estate | No Comments »
Monday, August 11th, 2008
A few weeks ago, I posted some information about the then-pending bailout bills which have now been signed into law. The bill, I noted, was a divisive one both in Congress and among Americans. I also noted that a number of people who I talked to felt that bailing out ...
Posted in Foreclosure, Mortgage Costs, Mortgage Laws | No Comments »
Tuesday, July 29th, 2008
Fannie and Freddie. You've probably heard their names so often lately that some might think that they're the newest celebrity twins and are expecting to see their pictures on the cover of US Magazine. Too bad that's not the case.
A recent Reuters article gave a great explanation about Fannie and ...
Posted in Housing Options, Mortgage Laws, Real Estate | 2 Comments »
Thursday, July 17th, 2008
On Monday, Fed Chairman "Big Ben" Bernanke announced that the Board had approved a final rule to amend Regulation Z (Truth in Lending). In a prepared statement, Bernanke announced that the changes are "intended to protect consumers from unfair or deceptive acts and practices in mortgage lending, while keeping credit ...
Posted in Housing Options, Mortgage Laws, Regulation Z, Transparency | 1 Comment »
Tuesday, June 3rd, 2008
In a previous blog, I talked about FHA's change to a credit-score based MIP (mortgage insurance premium). This is good news for folks who need the benefits that come with FHA loans (i.e. lower down payments and higher debt-to-income ratios) but who have exercised good sense when it comes to ...
Posted in ARM, FHA, Housing Options, Mortgage Costs, Mortgage Laws, RateWindow | 1 Comment »
Wednesday, April 30th, 2008
Always one to stay abreast of current legislative matters, I wandered on to the GovTrack.us website, which touts the idea that "Trasparency in government is key for a healthy representative democracy." Hmm. Transparency. That sounds familiar.
Anyway, I decided to search out bills inroduced by the House and Senate about mortgage. ...
Posted in Mortgage Laws, RateWindow, Transparency | No Comments »
Wednesday, February 13th, 2008
The Board of Governors of the Federal Reserve System Board propose to increase rate transparency to consumers by restricting creditor payments to mortgage brokers, in the form of yield spread premium, to an amount that is previously disclosed and agreed upon by the consumer. In layman's terms, yield spread premium ...
Posted in Mortgage Costs, Mortgage Laws, RateWindow, Regulation Z, Transparency | No Comments »
Wednesday, November 14th, 2007
The collapse of the sub-prime market left a lot of people in the lurch halfway through their loans. Loan officers went scrambling for options while borrowers lost precious time and money waiting to find out if they'd be able to get the house they wanted. Lenders went out of business ...
Posted in Fraud, Housing Options, Rural Development, Sub Prime | No Comments »
Thursday, October 25th, 2007
You know that feeling you get when you just know something isn't right? That's a good feeling to listen to when getting a mortgage. Fraud abounds in the world, but sometimes it wears the mask of "don't ask, don't tell". During my time in mortgage offices, I have often heard ...
Posted in Foreclosure, Fraud, Housing Options, Sub Prime | 1 Comment »
Wednesday, October 24th, 2007
It won't pay as much to mortgage professionals or homeowners to falsify information on mortgage documents! If Texas Bill 716 has its way, your only pay would be an orange jump suit and three square meals a day in a six foot enclosure! A stay at Club FED (federal penetentary) ...
Posted in Bill 716, Fraud, Mortgage Laws | No Comments »
