Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A with more Nationwide Mortgage news from my friend Herman Thordsen (www.lendinglaw.com).
Here are some of the headlines:
Read and learn updates, changes and CFPB discipline against others.
- Three companies and four individuals penalized for not having and/or not complying with the Anti-Money Laundering laws. If you do not have an Anti Money Laundering Manual you are in violation of federal law. If you need one you can obtain it from our office by contacting Sean or Herman at 888-667-8529.
- FHA allows consumers to buy new homes one year after bankruptcy, foreclosure or short sale. Learn the terms and conditions here. It would seem it is a good potential source of business since most consumers would think 3-5 years and now you may be able to put the family in a home sooner making life easier for mother and children.
- Consumer Financial Protection Bureau sued Morgan-Drexen of Costa Mesa, California for illegally collecting upfront fees. Morgan-Drexen fights back.
- Recommending borrowers transfer title to property to a trust or other entity after financing or refinancing can cause issues with the viability of the title insurance and more importantly could negate the homeowners insurance policy. Read on and if you or a borrower has issues here contact us.
- Arizona Attorney General Tom Horne files lawsuit against Loan Modification Assistance Companies for collecting advance fees. (You would think everyone would no better by now!). But if not, call us for defense.
- San Diego Real Estate Developer charged in Louisiana with Mortgage Fraud.
- Iowa Mortgage Company owner gets 7.5 years in federal prison for mortgage fraud. (The U.S. Attorney office has recently announced they are treating these crimes harsher and asking for heavier.
Click here to download a free copy of the full report.
That’s it for this time! Make it another great day!
Your Hard Money Lender in Tucson and Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation.
Remember, it’s not only the grades we make, but the hands we shake. Please give me a call at: