Taking Another Stab at Massachusetts Loan Modifications: Refinancing...
The recent historic drop of mortgage rates has created a refinancing boom for qualified homeowners. Unfortunately, the refinancing wave washing over the country has paradoxically left dry homeowners...
View ArticleThe Current State Of The Massachusetts and U.S. Residential Mortgage Lending...
David Gaffin of Greenpark Mortgage, www.massmortgageblog.com, is here with a superb summary of what’s now going on with Massachusetts (and national) residential mortgage market. The National and...
View ArticleMassachusetts Real Estate Law Year In Review & Outlook For 2011
It’s that time again for our annual review of hot topics and top posts for the last year, 2010. #5. The Great Flood of 2010. Ah, who can forget the flooding in the spring of 2010. I sure remember...
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Are The Lowest Mortgage Rates In History Now History?
A guest post by David Gaffin, Senior Mortgage Lender, from Greenpark Mortgage. David Gaffin, Greenpark Mortgage Since Nov. 3rd when the Federal Reserve Bank released details of QEII (Quantitative...
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Truth In Lending Disclosure Statement: How About Confusion In Lending?
Annual Percentage Rate (APR), Amount Financed, Finance Charge, and Total Payments…the Truth In Lending Disclosure Statement is one of the most challenging disclosure forms to explain to borrowers at a...
View ArticleFHA Stays In Condominium Game With Issuance Of Revised Lending Guidelines
Good News For First Time Condo Buyers FHA loan programs offer low down payment mortgages which are often ideal for first time home buyers who lack cash for a 20% down payment but are otherwise strong...
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The SmarterBorrowing.com Weekly Massachusetts Mortgage Rate Advisory (Feb. 7,...
by Brian Cavanaugh, Senior Mortgage Banker, RMS Mortgage and SmarterBorrowing.com Overall, despite being a fairly light week in terms of economic releases and relate events, it is still relatively...
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Real Estate Industry Braces For Another Overhaul Of HUD-1 Settlement...
Final product will be a combination of both the final Truth in Lending (TIL) form and the HUD-1 Settlement Statement — a dramatic change from the existing forms. For the second time in as many years,...
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Leaving With Keys and Carpal Tunnel: Why Do Buyers Sign So Many Closing...
Real Estate Crash Has Resulted In Many More Forms and Disclosures These days buyers are leaving closing rooms with not only their keys but a mild case of carpal tunnel syndrome! The reason for sore...
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CFPB Releases New Mortgage Disclosures Replacing Good Faith Estimate, Truth...
Concise Disclosures Aimed At Reducing Borrower Confusion and Helping Comparison Shopping As part of a continuing overhaul of the home mortgage market, the Consumer Financial Protection Bureau on Monday...
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FHA Softens Condominium Lending Guidelines, But Barriers Remain
Condo Sales May Get Slight Boost, But Financing Rules Remain Tight Responding to lender, condominium association and consumer outcry that the existing FHA condominium lending guidelines are too strict,...
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Why Have Obama And Romney Ignored the Housing and Real Estate Market?
All Politics Aside, It’s Time To Bring Housing & Real Estate Back To the Forefront In the most tweeted, Facebook-ed and instant polled Presidential Campaign ever, there is one topic which has been...
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Lender/Settlement Agent Regulatory Alert: Nov. 6 Deadline to Prevent Proposed...
Mandatory 3 Business Day Waiting Period Will Delay Closings Action Needed: Comment On Proposed Rule While our attention has been diverted from more important issues such as Hurricane Sandy and the...
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Massachusetts Real Estate Law 2012 Year In Review (And Predictions For 2013)
I always look forward to recapping the year that was, and bringing out the crystal ball to predict the year ahead. This year, like years prior, was an active year for Massachusetts real estate law,...
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Late To The Party Again? CFPB Issues New “Ability To Repay” Mortgage Rule
New Rule Aims To Prevent Predatory Lending The new Consumer Financial Protection Bureau has just issued what it deems “one of its most important rules to date.” It’s called the Ability To Repay Rule....
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Closed! Government Shutdown’s Effect On Massachusetts Real Estate Market
I’ve been glued to CNN in recent days, watching incredulously as those buffoons in Washington grind our government to a halt. I though for sure that a midnight deal would have been struck, but I woke...
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CFPB May Announce New GFE and HUD-1 Disclosure Rules In Boston On Nov. 20
Updated 11/20/13: CFPB Issues Final Mortgage Rules and Disclosure Forms (click here for more info) A long awaited regulatory and compliance announcement may be coming to Boston next week. The Consumer...
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CFPB Issues Final Lending and Closing Disclosure Forms
CFPB Issues Long Awaited “Know Before You Owe” Mortgage Disclosures, Replacing Truth in Lending, Good Faith Estimate, and HUD-1 Settlement Statement As part of a continuing overhaul of the home...
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Qualified Mortgage (QM) Rules: Why Getting A Mortgage In 2014 May Be Harder...
New Four Letter Word In the Mortgage Industry Say the word “QM” (short for Qualified Mortgage) to any mortgage banker these days, and watch their reaction. If they were smiling, they will stop. Better...
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Fifteen Minute Foreclosure Counseling Session at Gillette Stadium Deflated...
Court Halts Eviction For Distressed Homeowner, Validity of Foreclosure In Question (Wells Fargo v. Cook, Mass. Appeals Court May 19, 2015) In response to the foreclosure crisis, HUD enacted regulations...
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Landlords Cannot Refuse to Rent to Criminals, Says HUD
Widespread Racial Disparities In Criminal Justice System Justifies New Policy Last week the Obama administration released new controversial Fair Housing guidelines telling the nation’s landlords that...
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Coronavirus (COVID-19) Pandemic: Massachusetts Rental Housing Impact
COVID-19 Impacts: Eviction Moratorium Proposals, Tenant Payment Issues, Housing Court Delays, Stay at Home Order, and Move-In Delays I’ve written two posts here and here about the Coronavirus...
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Federal CARES Act Eviction and Foreclosure Moratorium Extended To August 31
HUD Director Dr. Ben Carson Federal COVID-19 CARES Act Eviction and Foreclosure Moratorium Extended Another Two Months HUD Secretary Ben Carson announced yesterday that federal housing agencies have...
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