CFPB Opinion Says Lenders Using Google Ads May Be In Violation Section 8 Of RESPA For Fee Splitting The CFPB has issued an opinion about mortgage comparison site platforms. The agency says these sites could be violating the Real Estate Settlement Procedures Act (RESPA) section 8. The CFPB points out that mortgage comparison sites are … Continue reading CFPB Opinion Says Google May Be Violating Section 8 Of RESPA
Trigger Leads Ban Supported By NAMB
NAMB And Other Trade Groups Support Amending The FCRA To Ban Credit Bureaus From Selling Trigger Leads Trigger leads are driving both consumers and loan officers insane. The National Association of Mortgage Brokers (NAMB) has announced it support legislation that would ban trigger leads. The NAMB is a trade group that represents the interests of individual … Continue reading Trigger Leads Ban Supported By NAMB
Private Bankruptcy Filings Are Skyrocketing
UBS Says Private Bankruptcy Filings This Year Have Surpassed The Peak Set In The Early Stages Of The Pandemic Warning signs of a potential credit crunch were flashing even before Silicon Valley Bank's stunning collapse. United Bank of Switzerland is saying private bankruptcy filings for small businesses in 2023 have already surpassed pandemic levels. Financial … Continue reading Private Bankruptcy Filings Are Skyrocketing
FHA Did Not Approve 40-Year Loans For New Home Buyers
FHA Did Not Approve 40-Year Loans For New Home Buyers. The New Rule Only Applies To Modifications Of Existing Loans Sleazy mortgage brokers are making TikTok videos filled with false information. Greedy mortgage brokers are spreading misinformation on TikTok. This time its about recent a FHA announcement. The FHA announcement regards the increase the mortgage … Continue reading FHA Did Not Approve 40-Year Loans For New Home Buyers
United Wholesale Mortgage Has Cut 30 Percent Of Its Staff
United Wholesale Mortgage has reduced its staff by 2,600 since 2021. This 30% Of It's Staff Since January 2021, United Wholesale Mortgage has let go of 2,600 employees. The company has gone from 8,600 employees to 6,000. This contradicts CEO Mat Ishbia that UWM hasn't laid anyone off. Ishbia even stated it again in a … Continue reading United Wholesale Mortgage Has Cut 30 Percent Of Its Staff
Age Discrimination In Lending Appears To Be Skyrocketing
Study Shows Age Discrimination In Lending Appears To Skyrocket. Why Are Lenders Giving Older Borrowers The Shaft? It appears mortgage lenders are giving older Americans the shaft. A new study by the Center for Retirement Research at Boston College shows age discrimination by mortgage lenders is skyrocketing. The study is called, “Are Older Mortgage Applicants … Continue reading Age Discrimination In Lending Appears To Be Skyrocketing
Mortgage Rates Are Inching Toward 7 Percent
Mortgage Rates Are Inching Closer To 7%. Rates Are Up 13 BPS In Less Than 24 Hours. Is There Really A Recession Coming? Mortgage rates are inching closer to 7% and here is why. Economic data indicates that the economy has remained resilient. This is despite the Federal Reserve tightening monetary policy and raising rates. … Continue reading Mortgage Rates Are Inching Toward 7 Percent
Jay Farner Out As Rocket Companies CEO
Jay Farner Out As Rocket Companies CEO As Rumors Grow Louder Of Dan Gilbert Wanting To Sell The Company Rocket Companies CEO Jay Farner is leaving Rocket on June 1st. However, the company says his departure is not because of any dispute with the board of directors. Rocket filed a statement with the SEC last … Continue reading Jay Farner Out As Rocket Companies CEO
Majestic Home Loan Abruptly Shuts Down
California Based Wholesale Lender Majestic Home Loan Reportedly Shut Their Doors On January 31st. Posts on social media say RMK Financial who does business as Majestic Home Loan has abruptly closed. Former AEs say the wholesale mortgage lender had to close their business due to a legacy issue. Another former AE posted a similar comment … Continue reading Majestic Home Loan Abruptly Shuts Down
Mortgage Debt Wipe Out!
Mortgage Debt Wipe Out! MFI-Miami Client Gets Judge To Wipe Out 1st Mortgage With PHH Mortgage. Then Gets SPS To Lower Balance On 2nd Mortgage From $128,000 to $25,000 What I'm about to tell you is one of the most incredible mortgage debt wipe out cases I've ever worked on. It took a few years … Continue reading Mortgage Debt Wipe Out!
Successfully Fighting Foreclosures: How To Do It Right!
Successfully Fighting Foreclosures Requires The Strategies Most Foreclosure Defense Attorneys Get Wrong Or Don't Even Bother Pursuing Homeowners are successfully fighting foreclosures in record numbers since the housing collapse in 2008. Why? Homeowners are realizing they can successfully fight foreclosure actions brought on by unscrupulous mortgage servicers. Or in a worse case, fight the lender … Continue reading Successfully Fighting Foreclosures: How To Do It Right!