Recently, I discussed the importance of staging your home, decluttering and depersonalizing. We call this the 5 P’s. PROPER PREPARATION PREVENTS POOR PRESENTATION. However, no matter how wonderful your home looks, if you are not …
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RISMEDIA, March 6, 2010—Not only did we turn over a new year on January 1, 2010, but the U.S. Department of Housing and Urban Development (HUD) ushered in monumental and mandatory changes to the Good Faith Estimate (GFE) and HUD-1 settlement statement (HUD-1).
The intent behind these changes is to make the lending process more transparent by providing settlement and loan information in a way that will allow borrowers to more easily shop loans and compare charges. To that end, the format of both the GFE and HUD-1 has been substantially altered. And while the goal is transparency for the borrower, most in our industry are still struggling to find clarity as to how to prepare these new forms.
Previously a one page document, the new GFE is now three pages in length.
According to the Federal Reserve’s well-recognized Beige Book, U.S. economic conditions have shown signs of improvement through the first part of this year. Data from nine of the 12 Federal Reserve districts indicated that economic …
One of the nation’s most visible and vocal lawmakers has cast some doubt on the safety of doing business with the nation’s two largest mortgage financiers, Fannie Mae and Freddie Mac. Rep. Barney Frank (D-Massachusetts), …
CB Richard Ellis Group, Inc., a commercial real estate services firm headquartered in Los Angeles, announced Friday that is has promoted Gil Borok to CFO. He takes over the CFO responsibilities from Bob Sulentic, who …
The California Housing Finance Agency (CalHFA) announced Friday that it will develop innovative initiatives to use nearly $700 million in new federal funding to help the state’s most troubled homeowners stay in their homes. The …
The StoneHill Group, a national provider of quality control, due diligence, mortgage processing, and post-closing services for mortgage originators, moved into its new corporate headquarters Friday to accommodate the company’s anticipated growth and 2010 expansion …
Genworth Financial, a publicly-traded global financial security company headquartered in Rancho Cordova, California, is the newest client of Providence, Rhode Island-based Lincoln Appraisal & Settlment Services, a national appraisal management and settlement services company.
This article …
University Financial Associates, LLC (UFA), headquartered in Ann Arbor, Michigan, recently released its quarterly Default Risk Index, showing that although mortgage risks are still elevated, they are quickly returning to normal levels.
This article originally appeared …
For months, industry experts have lamented the nation’s poor job market as a stranglehold on the housing market’s recovery and a dead weight dragging down occupancy rates and new development in the commercial real estate …
As mandated by the Housing and Economic Recovery Act of 2008, the secretary of HUD recently released a report to Congress addressing the root causes of the foreclosure crisis and made recommendations on actions that …
FDIC Chairman Sheila Bair – a recognized champion of homeownership preservation whose loan modification model has set the standard for the industry – is throwing her support behind the administration’s Home Affordable Modification Program (HAMP). …
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