Legal
Bank Libor Rigging Suit Yields New Round of Fines Settlements
If you are still in an adjustable rate loan, look at your loan documents. Is the rate based on the LIBOR (London Inter Bank Offered Rate)? If you answered yes, sit up and take note. An international investigation into Libor rigging, begun in 2012 revealed widespread multi-bank rate fixing. Interest rates were discovered to have…
Read MoreOcwen Pulling Out of Correspondent Lending
Ocwen Pulling Out of Correspondent Lending More than 20 state business regulators issued regulatory enforcement orders in April of 2017 to auxiliaries of Ocwen Financial Corp to address “misusing of buyer escrow accounts and a lacking financial condition,” as indicated by an April news discharge from the North Carolina Office of the Commissioner of Banks.
Read MoreForeclosure Rates Slowly Decreasing Until Harvey Roared
The Summer that Foreclosures and Delinquencies Stabilized Foreclosure Rates Slowly Decreasing Until Harvey Roared Nearly 10 years after the Troubled Assets Relief Program (TARP) was established, Foreclosure rates remain stagnant, when comparing month to month, but is actually down year over year by over 27 percent. When congress authorized TARP through the Emergency Economic Stabilization…
Read MoreForeclosure Aternatives-3 Ways You Can Still Avoid Foreclosure
If you know, you’re heading to foreclosure you may sell your house in what is referred to as a brief sale if you are able to negotiate with the lender to take less than that which you owe on your house loan. A foreclosure is bad enough, but a legal eviction will basically prove to…
Read MoreMortgage Help Tips & Guide
Possible Warning Signs on Mortgage Help You Need to Be Aware Of Finding Mortgage Help There is a lot of confusion out there about which assistance will save your home, and how it works. Then there are submissions and resubmissions of documents. Lenders request some documents, even if you already sent them, and you have…
Read MoreThe Summer that Foreclosures and Delinquencies Stabilized
The Summer that Foreclosures and Delinquencies Stabilized Did you know that foreclosures usually spike in summer months? Black Knight June 2017 First Look at Mortgage Data report, states foreclosure rates are holding steady month over month as of June 2017. Loan delinquencies in the US are at 3.8 percent (this rate is referring to loans…
Read MoreWells Fargo in New Scandal
Wells Fargo in New Scandal – This Time Over Unauthorized Mortgage Modifications Wells Fargo is back in court. According to attorney Theodore Bartholow III, who represents the plaintiffs Christopher and Allison Cotton, Wells Fargo has secretly modified his client’s mortgage resulting in an extension of the mortgage term by over 25 years. According to the…
Read MoreFast-Track Foreclosures Spreading Across Nation in Blight Fight
Fast-Track Foreclosure’s Spreading Across Nation in Blight Fight The volume of first time Foreclosures in the U.S. have declined. Still, houses vacated by owners who did not feel they could save their homes, continue to plague major cities across the United States. Fast-Track foreclosure laws are being passed by several states, including Florida, New Jersey,…
Read MoreChase Originator Pleads Guilty -$33M
Chase Originator Pleads Guilty -$33M Former Chase Mortgage Originator pleads guilty to fraud costing Chase $33 million! How the Fraud Happened: Underwriters base approvals, as well as interest rates and loan amounts on the amount of risk inherent in a loan application. That risk has traditionally been calculated on the 5 C’s of credit underwriting:…
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