October 23, 2014
Following allegations from New York's banking regulator over Ocwen Financial backdating mortgage servicing documents, Moody's has downgraded Ocwen for its servicing capabilities and Standard & Poors has also issued a downgrade for the company.
Recent regulation changes to federal reverse mortgages have transformed the product from a “loan of last resort” to a viable financial planning tool, says Bankrate in a recent article. Bankrate notes some of the key changes that paved the way for the ...
- The National Rental Home Council, the trade group for single-family rental homes created by the largest owner-operators in the space, has released operational guidelines for the entire single-family rental industry.
- This Hunger Games star just purchased a new bachelorette pad for $8.225 million, but she's not the first celebrity to walk the halls of this Beverly Hills mansion.
He's also a former co-owner of the Trott & Trott law firm, which specializes in home foreclosure work on behalf of banks. It prospered during the recent housing crisis, foreclosing on up to 80,000 homes in 2009 alone. Many homeowners who have dealt ...
- Britain has been told to pay an extra €2.1 billion to the EU budget within weeks on account of its relative prosperity, Financial Times reports.
A former hard money lender who resides in University Place, Washington was sentenced today in U.S. District Court in Tacoma to five years in prison, three years of supervised release and $831,607 in restitution for his mortgage fraud scheme announced ...Tacoma-area lender gets 5 years in jail for mortgage fraud - Puget Sound Business Journal (Seattle)
- Marriage is no longer at the forefront of Americans' minds as more people choose to delay marriage, creating a ripple effect that pushes the prospect of homeownership further back.
The new CFPB requirement is similar to the changes lenders faced in 2010 with RESPA and the new good faith estimate (GFE). The difference is that RESPA-TILA will impact not just disclosures, but also pre-application estimates, compliance tests and ...Ballard Spahr | CFPB finalizes amendments to mortgage rules - Linex Legal (press release) (registration)
At this week's event in Las Vegas, lenders were openly comparing notes on how they plan to deal with 1,888-page TILA-RESPA Integrated Mortgage Disclosures Rule. Which is a great thing, because the changes due to hit the industry by the summer of 2015 ...Ballard Spahr | CFPB finalizes amendments to mortgage rules - Linex Legal (press release) (registration)