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Home | Author Archives: Staff Writer

Counsel’s Corner: Regulatory Compliance in Today’s Technology-Inundated Mortgage Industry

Alan Weinreb, Founder of the Margolin & Weinreb Law Group, is a New York-based attorney specializing in mortgage foreclosure, bankruptcy, and REO. Weinreb represented the plaintiff in a very significant case recently, which saw a federal court hand down a decision on a traditionally state-level issue: foreclosure actions. According to Weinreb, the outcome could impact future foreclosures across the state—and the nation—for years to come.

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Spending Will Rise as Rates Drop

A new JPMorgan Chase Institute report highlights the link between interest rate changes and consumer spending for homeowners with adjustable-rate vs. fixed-rate mortgages. The study, released on Thursday, could provide valuable insight to housing policy makers regarding how their actions affect the type of mortgage a homeowner chooses as well as how they impact the consumption habits of homeowners with ARMs, compared to those with fixed rates, throughout the business cycle.

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Judge Rules with Plaintiff in Credit Suisse Suit

A federal court ruled recently that Credit Suisse misled homeowners over fees for reinstating mortgages. The Florida judge ruled that homeowners in the suit had provided adequate information that Credit Suisse’s mortgage unit violated the Fair Debt Collection Practices Act. Credit Suisse had sought a dismissal, saying the class had not made a thorough case that the bank had failed to properly disclose debts and fees.

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HouseCanary Announces Collaboration With Google

This joint effort between HouseCanary and Google will provide industry professionals with trends, insights, and indices in nearly every MSA, zip code, and block in the country today and three years into the future. HouseCanary’s proprietary datasets are exclusively available on www.housecanary.com and now available through Google.

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Financial Regulation in the Trump Era

With a new administration at the helm, everyone expects plenty of change to happen, particularly in financial regulation and the lending industry. Regulatory entities are already a high-priority focus for President Trump, most notably the Consumer Financial Protection Bureau.

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BofA Fulfills Settlement Ahead of Schedule

The implementation of the settlement was successful in directing most of the consumer relief to those who needed it the most. The majority of consumer relief came in the form of mortgage loan modifications, 53 percent of which were in areas identified by the U.S. Department of Housing and Urban Development as part of Distressed Census Tracts, or Hardest Hit Areas. The settlement agreement also provided for resources to be directed to local organizations and legal assistance programs to help stabilize neighborhoods and provide foreclosure-prevention assistance and other housing-counseling activities.

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