201405.07
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It Was Inevitable – Thanks a lot QM!

We try not to wander too far afield into the political end of things.  But sometimes you just have to give credit where credit is due and point out some of the obvious consequences of laws affecting lenders, borrowers, default, and legal ramifications.   Dodd-Frank and the ensuing Quality Management or QM regime enforced upon the…

201404.29
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Home Prices Continue Modest Rise

Nationally, we have seen between 2% to 7% rise in home prices over the past year.   Big California cities have seen the biggest increases. The latest news is based on the increase in prices and reduction in time on market between February 2013 and February 2014.   “Black Knight Financial Services released its Home Price…

201404.22
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Reverse Mortgage Short Sales

No list of lenders who most shamelessly obstruct the short sale process is complete without mention of the reverse mortgage lending industry.  (“RMLI”)   The RMLI has gotten a pass from heavy consumer scrutiny in part because it is a fairly new phenomenon.   But the list of abuses is growing and the honeymoon appears to be…

201403.27
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One of Life’s Greatest Joys

The American Dream refuses to go away quietly in the night.   The aspiration for home-ownership has survived even the dismal recession whose tentacles began to appear in 2007 and a few of which linger to this day.   One of our lawfirms’ great celebrations occurs when a short sale client returns to buy their first home…

201401.16
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Phantom Income as of 1-16-14

The House Bill and budget has been sent to the Senate as I write today.  It does NOT  include an extension of the exemption that expired 12-31-13 for treating forgiven debt as income.   There are still advocates for the extension of the exemption and this is the latest information available as of today: Bill Seeks…