Our Blawg
Falling Mortgage Rates Spur Serial Refinancing
Negative economic reports of late have pushed the rate on the popular 30 year fixed to below 4.5 percent, the lowest this year and just about a quarter percent off the 50-year lows we saw last summer; adjustable-rate products are even lower. When investors see bad...
read moreA short way to short-sale fraud
Working short sales? Watch out for fraud. This article details a growing trend in short sale fraud. It can mean disaster for the unwitting buyer and huge financial losses for lenders.
read moreThe Pitfalls Of Buying A Foreclosure House
Buying a foreclosure was once touted as a way to get a great deal on real estate. Recently, however, the potential financial rewards of buying a foreclosure don't come without their share of hard work and headaches. Getting involved with a foreclosed property...
read moreMortgage Insurance Cancellation: The Myths and Realities
When it comes to private mortgage insurance (MI), there are several myths that exist that make buyers reluctant to consider a conventional loan with MI as an option when purchasing a home. One of the more common misconceptions is that cancelling MI is a...
read moreHome clearance sale coming from 'desperate' sellers
In this market anxious Sellers will have to price aggressively to get cautious Buyers off the fence. Selleing real estate? Be certain to work with a local, qualified Realtor who knows how to price your home fora...
read moreCan Low Rates Spark A Hot Housing Summer?
http://n.pr/lWVpcq In recent days, home mortgage interest rates have ticked up very slightly but are still quite low, well below 5 percent. This spring's low rates have helped boost mortgage applications, both for refinancing and purchases. NPR's Chris Arnold...
read moreMortgage Rates Today: Low Mortgage Rates Remain in Holding Pattern
For yet another week, low mortgage rates have remained in a holding pattern that has become the trend this year.
read moreFederal regulators propose 20% down payment requirement
As the housing market begins to dig itself out of the trough caused by the bubble, new tough down payment requirements are hamstringing recovery momentum, especially among first time home buyers. Under the newly proposed Qualified Residential Mortgage (QRM)...
read moreNew Loan Officer Rules Go Into Effect as Court Dissolves Stay
The Federal Reserve Board’s regulations governing loan originator compensation went into effect April 6 after a federal appeals court dissolved a stay suspending implementation of the rule.
read moreIsn't That Loan Fraud?
The definition of loan fraud is simple. According to the F.B.I. loan fraud is any material misstatement, misrepresentation or omission relied upon by a mortgage underwriter or lender to fund a loan.
The definition does not make any exception for white lies, half truths, fibs or creative facts. It says any material misstatement, misrepresentation or omission. In most cases if you are involved in a real estate loan transaction, as a borrower, real estate agent, attorney or some other party, and you have to ask yourself or someone else “Is that loan fraud?” 95% of the time the answer is “yes.”
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