A plan to ease banking regulations has passed its first hurdle in the House of Representatives. This Fox Business article explains the changes that will occur if the bill passes the Senate. The House of Representatives passed the Financial Choice Act recently, a bill that would significantly roll back a multitude of financial regulations implemented … More Dodd-Frank on its death bed? What you need to know.
In this ever changing landscape of bank failures, short sales and multiple mortgage assignments, borrowers often overlook the last step in these transactions, which could come back to haunt them. That last step is getting the prior, paid-in-full mortgage released “of record” in the City Register’s office. Many people fail to understand that merely paying … More Make Sure Your Mortgage Satisfaction is Recorded!
This article from realestateabc.com offers some good insight into the impending changes that will help buyers better understand the loans they are entering into. Lenders will need to make adjustments on how they process and prepare documents. Closing mortgage documents will become a little simpler for home buyers come Aug. 1 when new federal regulations … More New Mortgage Rules Start August 1st! Simpler For Buyers- More Work For Lenders.
A borrower may be able to walk away from his mortgage just by sending the lender a letter within three years of executing the loan documents. At least that’s what the U.S. Supreme Court recently said in the case Jesinoski v. Countrywide Home Loans . This right is fairly limited, of course. Under the Truth In … More Loan Disclosures – Consequences to Lender can be great for failure to disclose.