Federal Reserve Bans Yield Spread Premiumspress release8/16/2010       The Federal Reserve Board on Monday announced final rules to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices. The new rules apply to m...
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII,Section 104.04: Attorney (or Trustee) Fees Effective September 1, 2010, Fannie Mae is prohibiting servicers from directly or indirectly requiring or encouraging attorneys or trustees to use specified vendors in conn...
I took a call today from a company whose phone number looks like they should be in New Jersey and they may actually have a location there, but maybe not. This firm does outsourcing of title services for large title underwriters and for some large banks.  They wanted to know whether or not I would...
 I wish I could say that any of the allegations in this complaint surprised me, but, nope, no surprise at all.  As an REO title specialist in Maryland I have seen HUNDREDS of cases like this where there was an assignment out of MERS into the "note holder" stuck smack in the middle of the chain of...
Recently a 7.5 Billion Dollar class action law suit was filed against a Florida foreclosure firm alleging that they particpated in fraud when filing thousands of foreclosures in the State of Florida. To read the complaint, click here:
Fannie Mae announced today that it has launched its new consumer website, to educate homeowners about their options to avoid foreclosure and how to get help. The purpose of this website is educate homeowners who may be facing foreclosure. It is a sad fact that many homeowners ...
I read an interesting article today at Source of Title written by Robert Franco.  Mr. Franco brings up a very good point, one that I think most Realtors don't consider when trying to help a friend or family member in a FSBO transaction. I have seen, in my role as a title agent, situations where t...
Well I couldn't sleep last night. As is often the case I was thinking about business just before turning in for the night and as a result tossed and turned for hours.  But they were not totally unproductive hours.  I was able to compile a list of related industries that have been severely affecte...
I guess we saw this coming but for some reason I was surprised by this article written in The New York Times by Tara Siegel Barnard. Curiously enough I was talking to a Realtor today in my area who specializes in short sa...
Recently there have been several articles in our local daily paper, The Baltimore Sun, that would make one believe that ALL title agents are crooks and are not to be trusted.  I am here to tell you that that is just not so. An article written by Jay Hancock dated June 20, 2010 is so blatently acc...


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