New rules on loan fees and interest rates have been proposed, while another proposal seeks to eliminate some of the disparity between bank and non-bank loan originators. In addition, changes are being proposed to the existing loan originator compensation rule that should alleviate some industry concerns. On mortgages where a mortgage broker or creditor pays [...]
Posts Tagged ‘consumer protection act’
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Guidance Issued on LO Comp Rule
August 18th, 2012 
davidguide 
Posted in Business Loans 
Tags: consumer protection act, disparity, industry concerns, Issued, loan originator, Mortgage, origination, origination points, prospective borrowers, protection, rule 
Comments OffSIGTARP Report Finds Hardest Hit Funds Barely Utilized
April 12th, 2012 davidguide The Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets was established in February 2010 through the Dodd-Frank Wall Street Reform and Consumer Protection Act . The program was to be funded with $7.6 billion intended to reduce mortgage principal on negative-equity properties, provide assistance for unemployed or under-employed borrowers and help eliminate [...]
Posted in Business Loans Tags: consumer protection act, equity properties, housing finance agency, innovation fund, mortgage principal Comments OffSecondary Buyers in Litigation with Texas
November 17th, 2010 davidguide Enhance Mortgage Corp. and Templeton Mortgage Co. sued the Texas attorney general’s office alleging that the attorney general’s consumer protection division was making false allegations and threats through misuse of the state’s Deceptive Trade Practices-Consumer Protection Act. The attorney general countered with a suit accusing the two mortgage businesses and company officers of violating the [...]
Posted in Business Loans Tags: Attorney, Buyers, Consumer, consumer protection act, consumer protection laws, deceptive trade practices, Enhance, false allegations, General, Litigation, Mortgage, protection, Secondary, Texas, texas attorney general Comments Off
