Tag Archives: Mortgages

Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Roy Diaz of Fort Lauderdale, Florida-based SHD Legal Group.

The authors found that about 31 percent of first-time buyers took such advice, regardless of income, while more than half of those who earn less than $75,000 a year sought referral advice. About 7 percent above that income line sought advice.

Lending was up all-around, ranging from year-over-year growth of 27.5 percent in smaller short-term loans in the year's first half to 9.9 percent in first mortgage loans in just the second quarter. The association also recorded improvements across other metrics, including credit union membership, which grew by more than 900,000 in the second quarter to surpass 98 million.

According to the Colorado Division of Housing, the number of home loans paid off in Colorado fell 49 percent from the first quarter of 2013 to the first quarter of 2014. The report found that approximately 50,000 deeds of trust were released during Q1 2014, the lowest quarterly total recorded in any quarter since the division began collecting data in 2008.

According to new data offered by the CFPB, complaint volume last year totaled 163,700, an 80 percent increase from the 91,000 recorded complaints in 2012. Including this year, the bureau has received more than 310,000 complaints to date. The leap in volume underscores the challenges that still remain despite the progress made by financial industries in the last few years.