If you work in the lending industry, you need to be familiar with disclosure regulations under TILA-RESPA. What follows in this article are explanations about the critical components of this rule and what you need to do to be in compliance. This rule is the result of an amendment of Regulation Z (also known as the Truth in Lending Act)…
July 2015
The busiest season for buying homes is already here, with a strong spring performance leading into the summer. In fact, homes sold more quickly in April than at any other time in the two years prior. According to data released by the National Association of Realtors, sales for existing homes this year are expected to bring in more than $5…
Feigning occupancy to land a mortgage is the most common type of mortgage fraud perpetrated on lenders. On an average more than half of the claims made every year contain some level of occupancy misrepresentation. Such claims put lenders in a difficult situation, as based on their misrepresentations, lending institutions channel funds to close the real estate transactions. The smug…