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National Registration For Loan Officers Becomes Reality
National Registration For Loan Officers Becomes Reality By Peter G. The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 , part of the FHA reform bill, sets in place national standards for mortgage loan officers. Prior to the legislation 14 states participated in the voluntary Nationwide Mortgage Licensing System, but under the new rules all states and all loan officers will be part of a mandatory registration system to be established during the coming year. Miller What do you know about your loan officer?
www.realtytrac.com
- Tuesday, February 3, 2009
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Solving the MERS Mystery
That’s because when they see MERS — or its expanded manifestation, Mortgage Electronic Registration System — listed as the lender for a property, it often means extra work finding contact information for the actual lender who is foreclosing. To access the search from RealtyTrac, users can click on the “Mortgage Electronic Registration System” hyperlink in the Contact area of the property details page. Many foreclosure investors consider MERS a four-letter word. MERS is a system used by many in the finance industry to track loans and the lenders in charge of servicing those
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures and Hurricanes: A Nasty Combo
The Institute of Business and Housing Safety is reporting that the increasing number of abandoned or vacant foreclosed homes is so great as to generate real concern for the oncoming hurricane season this year. reported a rise in homeowner vacancies for the first quarter of 2008 from the previous quarter and the same quarter a year ago. The potential for damage The fallout that followed in the aftermath of Hurricane Katrina in 2005 left many Gulf Coast residents homeless or facing foreclosure — or both. Temporary relief from the devastation was granted in the form of a foreclosure
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Thieves Have the New Foreclosure Math Down
Some places have even proposed that the lenders pay a registration fee for every foreclosed property when it comes back to the bank. It doesn’t take a mental giant to do the new math of the foreclosure crisis. As a matter of fact, it’s as easy as two plus two. Here’s all you have to factor into the equation in order to successfully perform the new math: 1)
www.foreclosurepulse.com
- Tuesday, December 16, 2008