|
Site Map - sitemap
Short Sale vs. Short Refinance
Shortrefinance
ShortRefi
Short Refi Loans
Short Refinance Mortgage Loans
HotNeutral™
“Neutral” 3rd Party Loss Mitigation for Mortgage & Credit Modifications!
HotNeutralWingSpan™
Confidential OptIn Modifications™
OptInModifications™
Lenders/Servicers/Investors and Borrowers Can Opt In
to Confidential Loss Mitigation:
Mortgage & Credit Loan Modifications & 3221 Refi Solutions
*Protects Borrower’s Rights
*Protects Lender/Servicer/Investor Rights
*Confidential Data Collection
*No Sharing of Borrower Financial Information for Default Debt Collecting or Foreclosure
*Preset Approved Loss Mitigation Decisioning
*Not a Debt Collector
Stop Foreclosure Free Booklet Mortgage Foreclosure Loan Workout Modifications Short Refi Short Refinance Loan Brokers Stop Foreclosure Save Homeowners New Loans FHA Insured Loans New Law HR 3221
Housing and Economic Recovery Act of 2008
New Law July 2008:
Principal Reduction & Forgiveness & ShortRefinance™
Housing and Economic Recovery Act of 2008 Signed by President Bush on July 30 2008
MORTGAGE LOAN & FORECLOSURE COMPLIANCE SERVICE
DO YOU HAVE A CASE?
WHAT VIOLATIONS DO YOU HAVE IF ANY AT ALL?
New Congressionally Proposed Solutions - The Mortgage Reform and Anti-Predatory Lending Act of 2007 - By Richard Ivar Rydstrom, Esq.
(Rrydstrom@gmail.com)
The Mortgage Reform and Anti-Predatory Lending Act of 2007 amends the Truth in Lending Act ("TILA") with a duty incumbent upon the residential mortgage broker or originating lender to determine and certify the borrower's reasonable "ability to pay" from a "reasonable and good faith determination based on verified and documented information" of the particular loan being made, as applied to all loans owed, at an assumed fixed interest rate equal to the fully indexed interest rate (considering taxes, assessments, insurance, deferred payments, or negative amortization). On a refinance loan, the duty translates into a duty to determine and certify that the borrower received a "net tangible benefit". Mortgage lenders and brokers would have a duty to make disclosures and certify compliance with the Act and to "diligently work" to offer a borrower "appropriate" loan products. The law would mandate that definitions be supplied by the federal banking regulations issued within 18 months from enactment.
A violation of this national standard would create a cause of action for rescission, fees and costs. Parties within that circle of liability are the lender, assignee(s), aggregator and securitizer, not investors. The Act would prohibit "steering" incentives including incentive compensation (any yield spread premium) based on, or varying with, the terms of a residential mortgage loan.
Helping Homeowners Keep Their Homes and Lenders Keep Their Loans
Congressional Mortgage Solutions Debate White Paper
Help4ThePeople - Home
Contact Help
News Articles Mortgage Meltdown
Mortgage Solutions Meltdown
Free Foreclosure Booklet by Attorney Rydstrom on Housingzone
Defaults & Foreclosure Free Help Booklet
Industry Mortgage Solutions White Debate Paper
HelpHomeowners Home Page
Mortgage Default and Foreclosure Solutions
13 Homeowner Solutions to Default & Foreclosure! Hud Type Booklet
Mortgage Meltdown and Shadow Banking System NEWS ARTICLES
|
