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The “new” FHA Mortgage changes.
Image by Getty Images via Daylife FHA, one of the nation’s largest insurer of mortgage loans (if not the largest insurer to borrowers of a greater risk), every so often comes out with new guidelines that largely influence the way the real estate business gets done. Recently there were some moves to try to strengthen...
MLReport.com Presents: Lender-Pedia. For the People By the People. A Wiki story.
We here at MLReport know how important it is to find the information that you need when trying to deal with the mortgage servicing industry. When it comes to mortgage lenders it is not ever surprising to get a new number just about every time you call to some new department that disconnects you after a 45 minute...
MGIC: Mortgage Insurance Jr. Lien approval amounts
Mortgage Insurance companies are difficult to deal with as they are just one more hand in the pot to please when doing a short sale. They are stringent and prefer killing the deal rather thank taking logic into consideration. When the difference between killing a deal can be as little as several hundred dollars...
Wells Fargo Home Mortgage: Mod to Short Sale Guidelines
Many times homeowner’s having attempted everything find that they are being forced to have to sell. In fact it is because they’ve been turned around, either declined or given terrible offers, no matter what they request they are given no further options to allow them to keep the property in some affordable matter. Furthermore,...
NEWS: No 2009 pay for Bank of America CEO Ken Lewis
While a lot of people of hurting it will be nice to see that the lenders who cause this mess are not going to be getting away completely free. As the government’s pay Czar reviews the compensation that is received by the management in the companies that received TARP and other funds from the...
Washington Mutual’s Assets departments not accepting verbal authorizations.
Washington Mutuals Assets Department, since around June, has not been allowing for verbal authorizations to be given to third parties by the homeowners over the phone. Basically, for those who don’t know, when it is necessary for a lender to speak to a third party, this would be someone who is not the borrower/debtor/homeowner,...
AmTrust Imaging Sytems Information
In this industry knowing all the details can be the crucial key between getting your client what they need and on the other hand a client receiving a decline. That is why this is new section whereI we are informing the community in yet another vital place. As one can never say that any...
Short Refinancing. Option or Myth.
Short refinancing seems to be new on the scene but it has really been around for sometime. Short Refis can help a homeowner get out of a tight spot and attempt to turn around the negative equity that has built up during this negative economic slump. There are some important point to take into...
Predatory Lending
As an outlet for Reuters, CNN.com quoted ,Shanna Smith, chief executive of the National Fair Housing Alliance, as saying “All the predatory lending that has gone on, all of the pushing of exotic loans on people of color, female-headed households, families with children, people with disabilities — it’s all coming home to roost,”. Smith...