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Dennis Norman Home mortgages are often sold or assigned, sometimes even right after the origination of the loan and, as a result, borrowers find themselves not knowing who their current lender is or how to contact their lender. This issue was addressed back in May 2009, as part of the Helping Families Save Their Continue reading… New Rules for Mortgage Transfers By: Dennis Norman Ninety-eight percent of all mortgages are potentially eligible to be renegotiated due to Truth in Lending Act violations according to a review of thousands of mortgage documents undertaken by the Consumer Mortgage Audit Center (CMAC). The vast majority of the violations tend to take the form of missing paperwork, bad “good-faith” estimates, hidden and Continue reading… Ninety-eight percent of mortgages reviewed have missing paperwork making them potentially eligible for renegotiation Dennis Norman By: Dennis Norman Beginning July 30th new Truth in Lending rules go into effect that will require more accurate and timely disclosures to your borrowers. Because of this the mortgage approval process is likely to slow down somewhat meaning that agents should be conservative about the time put in contracts for loan approval until you Continue reading… Changes to Truth in Lending go into effect July 30th – Allow more time for financing |
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