I just published about junk mail that I received on my blog… but it doesn’t even compare to the piece of garbage we re
DFI Releases Guidelines on Loan Mods and Sets Limits on Fees
April 10, 2009 by 22 Comments
Washington State Department of Financial Institutions has released an updated interpretive statement on loan modifications late this afternoon. People who perform loan modification services for Washington State homeowners must be licesed as a loan originator and under the supervision of a broker, or be working under a licensed consumer loan company. Attorney have a limited exemption and [...]
Fannie and Freddie to Announce Mass Loan Modification Program
November 11, 2008 by 76 Comments
From the Wall Street Journal: Fannie Mae, Freddie Mac and U.S. officials are expected to announce plans Tuesday to speed up the modification of hundreds of thousands of loans held by the housing finance giants, marking the latest effort to try and prevent more foreclosures, people familiar with the matter said. The announcement could mark [...]
Loan Modifications
November 8, 2008 by 68 Comments
This is Part Three of a series of articles on the foreclosure process. This article does not constitute legal advice. Foreclosure laws vary from state to state. Homeowners in financial distress should always hire legal counsel. Call your local state bar association for a referral. Reduced or free legal aid may be available in some states. Ask [...]
Predatory Upfront Loan Modification Fees
August 21, 2008 by 430 Comments
I’m troubled by a trend that I’m seeing. Recently I’ve noticed that mortgage brokers/loan originators have become interested in learning about loss mitigation techniques. When I ask why, they say that they’re hearing there’s good money to be made doing loan modifications. What? Wait a second. I thought loan modifications were done by the lender for free. More and [...]
Recent Comments