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Like the infamous NINJA loans, the REMICs ought to be dubbed NEITs — nonexistent inactive trusts. The idea of switching lenders without permission of the borrower has been accepted for centuries.
Tags » Foreclosure
The Federal Reserve terminates anemic Enforcement Actions allowing Fraudulent Foreclosure Practices to continue.
The Federal Reserve is wrapping up its ineffective sanctions against the five U.S. banks who were accused of improper handling of post-crisis mortgage foreclosures. On Friday, the Federal Reserve Board announced another $35.1 million in civil penalties against five banks as part of its effort to terminate enforcement actions, issued in 2011 and 2012, against a total of 10 banks related to residential mortgage loan servicing and foreclosure processing. 720 more words
CitiMortgage owes Borrower Duty of Care regarding Loan Modification Efforts (California's 3rd District Court of Appeals): Rossetta v. CitiMortgage
Adding to the split of authority among California’s various state and federal appellate courts, the Third Appellate District ruled that a loan servicer may owe a duty of care to a borrower through application of the… 3,233 more words
By: Jamie Wiebe
The tip about coffee mugs? We’ve all been there.
Did you ever notice that your self-improvement pacts with yourself are action oriented? Walk 10,000 steps a day. 1,233 more words
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The U.S. government deploys several resources for Americans who need help financing a home purchase, including the popular FHA Loan program. But unbeknownst to some, there are also tools available for current homeowners who have fallen behind on their mortgage payments.