Although the financial reform bill is not yet law, both a House and Senate support versions which are similar and President Obama is expected to sign the final version in the next two weeks. What’s the biggest cause of the current financial crisis? Greed in mortgage lending. Greed-fueled mortgages took down the economy in the [...]
Entries Tagged as 'appraisal'
Mortgage Lending Changes Under New Financial Reform Law
June 29th, 2010 · No Comments · Banking, Mortgages
Tags: appraisal·excessive fees·financial crisis·financial reform·mortgage lending·Mortgages·no-doc loans·risk retention·yield spread premiums
Is It Illegal if My Bank Won’t do a Loan Modification?
October 14th, 2009 · 3 Comments · Mortgages
Q. I am having great difficultly getting a loan modification on my mortgage. I am 100% confident that I meet the criteria for the loan modification program. After initially agreeing to do the modification, they now say I don’t meet the requirements and stopped taking my calls. Can I sue? My story: I followed the [...]
Tags: appraisal·assessor's office·building inspection·Fannie Mae·Freddie Mac·illegal·loan modification·Making Homes Affordable Program·mortgage modification·refinance
Lender Discrimination Protection: Know Your Rights as a Consumer
September 8th, 2009 · No Comments · Banking, Mortgages, Student Loans
You remain a consumer with rights even as you apply for a loan of any type. No lender can discriminate against you; your rights are protected. There are existing federal laws that aim to provide you with lender discrimination protection so you do not fall prey to the unscrupulous practices of some lenders. The Equal [...]
Tags: appraisal·consumer·denied·discrimination·ECOA·FHA loans·lender·Loan Application·rights
