BofA HAMP Loan Mod Program: A Giant Fraud at Homeowner’s Expense

HAMP

Earlier this morning, I came across a very interesting statement made by a BofA employee in a lawsuit against the bank regarding its “participation” in the Home Affordable Modification Program (HAMP).  A “declaration” is a statement made under penalty of perjury and is commonly used in litigation to give facts (typically from a witness) to […]

Impact of Fiscal Cliff Agreement on Homeowners?

housing and fiscal cliff

There was so much fear mongering going on about “The Fiscal Cliff” it was starting to feel like being tied to a chair and being forced to watch The Shower Scene from Psycho. The stock market rallied up in response to it just being OVER WITH! But should we just be happy that it’s over […]

National Coming Out Day; We’ve come a long way in real estate and lending

October 11th is National Coming Out Day.  As an educator in the real estate and mortgage lending sector, I enjoy hearing

Is the Seller a “Foreign Person”? Buyers, FIRPTA Says You Better Find Out

This is not legal advice. For legal advice, consult an attorney in person about your specific situation. Never rely on a

Loan Originator Feels Entitled to Overage and Asks for Jillayne’s Advice

This is a good representation of the emails and blog comments I receive daily over at the NAMF website on the topic of l

13 Reasons Why 30% of LOs Fail the National Loan Originator Exam

NMLS Resource Center

The first time “pass” rate of the national loan originator exam has fallen to 69 percent.  This is an indication that th

If Your Loan Originator Isn’t Licensed Today, They Need to Work for a Bank or Credit Union Tomorrow

All mortgage originators who work for mortgage brokers or correspondent lenders/consumer loan companies must be licensed

Question from RCG Reader: My LO Won’t Issue a Good Faith Estimate

I recently received this question from a Rain City Guide reader:

I wanted a GFE from my lender… but am told I can o

Everybody LOVES bank fraud!

Is it just me, or do loan orginators routinely encourage bank fraud? First, the background: There are a variety of fed

IRS and Homebuyer Tax Credit: obtaining a”signed” Final Settlement Statement

This is tax time. Sometimes escrow offices wonder if we are CPA firms during tax time.   Our office has received numerou