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…

201404.22
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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…

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…

201312.20
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Lawyer Stereotypes

Whether it was Perry Mason, LA LAW, or an actual relationship with an attorney, most of us have stereotypes of attorneys.  Not only attorneys in general, but the way you think of an F. Lee Baily or Johnny Cochran type litigator is probably not the same way you feel about a Tax Attorney.   When you…