The Home Mortgage Disclosure Act has caused its fair share of grief among mortgage lenders who stress over the new risks it will bring to compliance in 2018. But there is some relief on the horizon as HMDA enforcement was just defanged by the now Trump-led regulators. both the Office of the Comptroller of the Currency …
HMDA enforcement defanged by Trump-led regulators Read More »
“Under the guise of practicing conservation, land trusts—operating with little, if any, oversight—are becoming states within a state,” said Bonner Cohen, a senior fellow at the National Center for Public Policy Research, adding: Lording over millions of acres throughout the U.S., they have learned that they can harass property owners and force them into prohibitively …
How Conservation Land Trusts Are The Modern Robber Barons Read More »
The International Business Times is offering an explanation as to why GOP Sen. Bob Corker switched his vote for tax reform to a “yes.” The reason is the addition of the so-called “Corker Kickback” to the tax reform, a provision that offers a 20% deduction for so-called “pass-through” entities, such as LLCs, LPs, and S-Corporations, according …
Tax reform creates a new tax break for large landlords and real estate moguls Read More »
Entities that solely own consumer residential mortgage loans and do not participate in the origination or servicing of those loans have more limited licensing requirements at the state level and are probably not subject to supervisory oversight by the CFPB. A purchaser of residential mortgage loans is, however, directly subject to a limited number of …
Everything you need to know about entering the mortgage finance market Read More »
A Washington state man who bilked investors out of more than $100 million in a Ponzi scheme has escaped from a federal prison in central California, according to the U.S. Marshals Service. Prison officials said Frederick Darren Berg, 55, was discovered missing Wednesday, Dec. 6 from a minimum-security work camp next to a penitentiary in …
Major Note Crook Darren Berg Breaks Out Of Federal Pen! Read More »
Some home sellers would need a sale contract inked before the end of 2017 in order to avoid a big tax bill that would be imposed if the GOP tax reform proposals become law. Both the House and Senate bills would require sellers to have lived in their residence for a longer period of time …
Less Than 1 Month Left to Sell Before Possible Tax Hike Read More »
The Senate Banking Committee has begun its markup of a bill that would roll back the Dodd-Frank Act. The bill, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, contains policies which would roll back or eliminate key parts from the Dodd-Frank Wall Street Reform and Consumer Protection Act. Earlier this year, House …
Senate Banking Committee introduces repeal of Dodd-Frank Read More »
Contributed by Craig Saxon (http://rpadvisors.com/_index.php), who wrote: “I’m sure those that work non-performing notes are aware that principal reduction is not as important as payment reduction, but apparently Fannie and Freddie are not!” Reducing the amount a homeowner, facing default, owes on their mortgage sounds like it would be a great idea to include in …
JPMorgan Chase: Mortgage modifications just as effective without principal reduction Read More »
Q: I am a real estate broker with a question regarding sellers disclosures. Is an investor/seller offering seller financing exempt from providing a sellers disclosure? A title company advised us that since the investor/seller is the mortgagee holding the lien, he is exempt because he is a lien holder. I think this is incorrect. Is …
In Texas, does seller financing mean no seller disclosure? Read More »
When Elizabeth Warren, Dick Durbin, and others complain about President Trump appointing someone to replace Richard Cordray at the Consumer Financial Protection Bureau, they should be asked what the budget is for the CFPB. The answer is that they will have no idea, because the CFPB was intentionally set up to be answerable to no …
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