All Posts Tagged With: "lenders"
How To Read The HUD-1
Since January 1st, 2010, all real estate transactions have been settled using a new HUD-1. The HUD-1 is a standardized form which allows real estate buyers and sellers to clearly understand the costs of their transaction. The original HUD-1 was developed as a by-product of the Real Estate Settlement and Procedures Act of 1974 — [...]
8Nov2009 | Peter G. Miller | 0 comments | Continued
How To Read The New Good Faith Estimate Forms
Since January 1, 2010 HUD has required lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
Mortgages: No Jail Time For Lenders
Why have so few lenders gone to jail? In part because neither predatory lending or insider trading with commodities are federal crimes.
4Sep2009 | Peter G. Miller | 0 comments | Continued
Since When Are Appraisal Conflicts Okay?
On RealTalk, a listserve with some 30,000+ agents and brokers, several relate that they have had bad experiences under the new Home Valuation Code of Conduct (HVCC) concept, something which only began May 1st. Why is anyone amazed? Combine a new and different program with a huge number of interactions and there are certain to [...]
30Jun2009 | Peter G. Miller | 1 comment | Continued
The Mortgage Offer Is In The Mail
The nation’s lenders are churning out 38 million mortgage solicitations a month, ads sent to your home through the postal system according to Mintel Comperemedia. While 38 million is a big number, the volume of direct mail solicitations has actually been going down for the past two years. In the first quarter of 2009, says [...]
25Jun2009 | Peter G. Miller | 0 comments | Continued
Can You Trust Your Lender?
There is something new in the marketplace, what is being called the Fair Market Collaborative. As someone who has been looking for fairness in the mortgage marketplace since the 1970s you can bet that I welcome any effort to create a level playing field for borrowers. But will the new collaborative really change marketplace realities? [...]
21Jun2009 | Peter G. Miller | 0 comments | Continued
Mortgages, Foreclosures & The Disgrace of Journalism
It was long ago when I received a degree in journalism. I wanted to study journalism because it gave me an opportunity to travel and to meet interesting people. I have been a correspondent on Capitol Hill and at the White House, I have lived on an offshore drilling rig in pursuit of a story, [...]
14Mar2009 | Peter G. Miller | 0 comments | Continued
Can You Profit From The Real Estate Meltdown?
Hardly a week goes by without the announcement that some major bank has just succeeded in raising billions of dollars in new capital from hedge funds or overseas investors. Given the huge sums being invested in U.S. banks you have to wonder what they’re doing with such new dollars. One good use might be to [...]
20Sep2008 | Peter G. Miller | 0 comments | Continued
The Illusion of Mortgage Assets
With newsstands dominated by scary headlines, Hollywood break-ups and still more diet plans, Harper’s magazine is typically somber and understated. However, for those with an interest in real estate the May 2006 issue offered a jarring cover story that’s tough to ignore: “The New Road to Serfdom: An illustrated guide to the coming real estate [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
Has Your Credit Changed?
It’s a combination car, pick-up truck, and SUV. You really want it. The features are great, the style is the latest, and it’s affordable — after the downpayment the cost is only $300 a month. “Would you buy this car today if I can include the genuine wood grain, rubberized, side moldings?” asks the salesman. [...]
15Sep2008 | Peter G. Miller | 0 comments | Continued
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