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Tag Archives: loans

Fraud in Loan Apps Up in February

More lenders in February saw defects in mortgage applications compared to January, according to a new report by First American Financial Corp. The firm’s chief economist cited rising interest rates as the likely culprit. As rates rise, more borrowers are seeking ARMs, which are inherently riskier and, thus, ripe for more misrepresentation.

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Making Assignments in the Dark

The chain of title is the guy-wire that holds the home finance industry upright. Without some method to determine who owns a given parcel of real estate, it cannot be used as collateral for a loan. In cases where these loans go into default, a clear title is essential for a smooth foreclosure and REO process. Unfortunately, problems arise that cloud the title, increasing loss severity for investors.

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Winning Bidders in Fannie Mae Non-Performing Loan Sale

The sale of these loans is intended to reduce the number of seriously-delinquent loans owned by Fannie Mae and to help stabilize neighborhoods and to help meet the portfolio reduction targets required under the Senior Preferred Stock Purchase Agreement with the United States Treasury.

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