Blog for Realtors
Short Sale Nightmare: Seller & Buyer sued by Fannie Mae & MERS
SHOCKER!! Buyer of a short sale doesn't own the property he just purchased (or does he?). Seller of the short sale paid off the wrong party (or … [Read More...]
Short Sale + Mortgage Insurance = Problem
Mortgage insurance adds another and potentially difficult step to closing out a short sale. Why? Quite simply it adds another approval needed in … [Read More...]
What is the Prompt Decision for Qualification for Short Sale Act of 2011?
NAR is touting a new bill the “Prompt Decision for Qualification for Short Sale Act of 2011” which has been introduced in the U.S. House of … [Read More...]
TX Assoc of Realtors response to FTC’s MARS rule misses the mark!
The FTC's (Federal Trade Commission) MARS rule (Mortgage Assistance Relief Services) has caused a lot of confusion for licensed real estate … [Read More...]
Blog for Homeowners
Trying to understand the Mortgage & Robo Signer mess? Read this doc!!!
We have attached an excellent document produced by Reuters that gives a good overview of not only the problems with robo-signers but explains the … [Read More...]
MERS tries to hide. No more foreclosing in MERS’ name.
In Texas we have noticed foreclosures in the name of MERS have suddenly become VERY rare. We haven't run across one in several months. Does this … [Read More...]
The Fed levies $85M penalty against Wells Fargo
SHOCKER, not everyone in foreclosure "bought too much house" or "lied about their income on the loan application". It turns out, that at times, … [Read More...]
MARS rule changes affect REALTORS
Read the fine print! Although the FTC has agreed to forbear enforcing some provisions of MARS against REALTORS, this doesn't mean that real estate … [Read More...]
Blog for Attorneys
Wells Fargo targets African-Americans with predatory loans
Say it isn't so...Wells Fargo the bank who brought us "Ghetto Loans" for "Mud People" is in trouble for unfairly targeting minorities? No, I'm not making this up. Read below. - The Bank Slayer Justice Dept. presses Wells Fargo on loans-source * Justice eyes Wells for targeting … [Read More...]
Bank of America’s ReCONtrust shut down in Utah
Ok, maybe I emphasized the CON in RECONTRUST but check, check and re-check again every document and entity that is trying to foreclose on property...you never know what you might find. According to Bloomberg and foreclosure defense attorney Beth Findsen: AG Mark Shurtleff advised Brian Moynhian … [Read More...]
Foreclosure info from LPS details banks getting paid 2-3x for the foreclosure!
The friendly folks at BankofAmericaSuck.com posted information about the screens and the access to info that your bank has about your home loan. LPS, short for Fidelity's Lender Process Services is the nations largest insurance & foreclosure tracking servicing and is used by many banks to … [Read More...]
Two different lenders own my mortgage??????
Talk about a title NIGHTMARE. As you will see below in a blurb from April Charney, a large national servicer (U.S. Mortgage) STOLE mortgages belonging to credit unions for which they were servicing the Notes. ($142 million worth of loans!!!). U.S. Mortgage sold the loans to Fannie Mae and … [Read More...]
