If you buy or sell notes in Florida, you need to jump on this: On March 1 the Florida Senate unanimously passed CS/HB 935 (it unanimously passed the House on Feb. 21), a bill that appears to require anyone who sells business loans to be licensed as a lender. Formerly, companies making business loans solely …
Florida May Require Note Sellers To Be Licensed As Lenders — Urge Governor To Veto Read More »
The Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act and is expected to vote on the bill at some point this week. Late last year the Economic Growth, Regulatory Relief and Consumer Protection Act, which was sponsored by Banking Committee Chairman Mike Crapo, …
Senate May Vote On Dodd-Frank Overhaul This Week Read More »
The former chief operating officer and chief financial officer of a New York mortgage lender admitted in court this week that they conspired to misappropriate more than $8.9 million from warehouse lines of credit that were meant to fund mortgages. According to the U.S. Attorney’s Office for the Eastern District of New York, Edward Sypher, …
More Mortgage Wire Fraud: Execs at Vanguard Funding admit to embezzling $8.9 million Read More »
Taxpayers no longer have to wonder how their money has been spent at the newly renovated headquarters at the Consumer Financial Protection Bureau. Mick Mulvaney, the CFPB’s acting director, graciously allowed The Daily Caller News Foundation to take an exclusive tour on Feb. 1 of the federal office — founded by Democratic Sen. Elizabeth Warren …
An Exclusive Peek Into Elizabeth Warren’s Luxurious CFPB Headquarters Read More »
It’s clearly a whole new world at the Consumer Financial Protection Bureau with Mick Mulvaney in charge. On Jan. 17 he said the CFPB needs NO MORE MONEY. When was the last time you heard a government official say that??!! Now Mulvaney wants public comment on the bureau’s enforcement, supervision, rulemaking, market monitoring, and education …
The Florida legislature kicked off its legislative session by introducing Florida Senate Bill 894 and House Bill 935, legislation that would regulate seller carryback mortgages on non-owner-occupied homes. On January 18, the bill passed the House Insurance and Banking Subcommittee with a 13-1 vote in favor. On January 24, the House Commerce Committee passed the …
Florida Attempting to Regulate Private Mortgages Read More »
In October 2017, SB 2 (Ch. 364, 2017) was signed into law by Governor Brown, creating a $75 fee on the recording of certain documents. Read about it here: http://www.clta.org/page/SB2CountyDocs Contributed by Carolyn Horvath oakcreekcapital-llc.com
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 676,535 U.S. properties in 2017, down 27 percent from 2016 and down 76 percent from a peak of nearly 2.9 million in 2010 to the lowest level since 2005. Those 676,535 properties with foreclosure filings in 2017 represented 0.51 percent of …
James Elton Warr, who operated American Note Warehouse, has been sentenced to 15 years in prison after being convicted of bilking investors out of more than $1 million from 2010 to 2011. His brochure read: “Make Money in Real Estate Without Real Estate.” His business card touted “Contractually Guaranteed 13% Interest” A Travis County, Texas …
American Note Warehouse Head Gets 15 Years For Fraud Read More »
Over the past 10 years, the rental population increased dramatically, even outpacing homeownership growth in the majority of the top U.S. markets. From 2006 to 2016, data from the U.S. Census Bureau shows nearly 25% of the 100 largest U.S. cities shifted from owner to renter majority. Renters took over in 22 cities, increasing the …
Rentership growth outpacing homeownership in 97 of top 100 cities Read More »
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