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Dodd-Frank: Title XIV – Mortgage Reform and Anti-Predatory Lending Act

March 21, 2013

Cornell University Law School has published an article giving an overview of Dodd-Frank Title XIV on mortgage reform and anti-predatory lending act and its implications. It can be found here: http://www.law.cornell.edu/wivex/dodd-frank_title_xiv

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Survey Finds: Dodd-Frank Appraisal Requirements Putting Strain on LO Annual Income

March 21, 2013

  February 19, 2013 The 2012 Loan Originator Survey has been released by Mortgage Daily, providing insight into issues impacting mortgage loan officers. The survey was sponsored by StreetLinks Lender Solutions and co-sponsored by Champions School of Real Estate. A majority of the male-dominated group was employed by non-bank firms, in contrast to the bank-dominated […]

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Dodd-Frank H.R. 4173 Title XIII – Pay It Back Act Subtitle F – Appraisal Activities

March 20, 2013

SEC. 1471. PROPERTY APPRAISAL REQUIREMENTS. Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by inserting after 129G (as added by section 1464(b)) the following new section: ‘‘§ 129H. Property appraisal requirements ‘‘(a) IN GENERAL. —A creditor may not extend credit in theform of a higher-risk mortgage to any consumer […]

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City of Chicago Acts on Vacant & Abandoned Property

July 29, 2011

We just heard that the City of Chicago has passed an ordinance that redefines the “owner” of vacant properties to include banks and other financial companies. Although mortgage holders and their mortgage servicers have always had a fiduciary duty to protect the value of properties either delinquent or under foreclosure proceedings, it would appear that […]

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