At the same time it dumped large
numbers of loan sellers who were not meeting its standards and shifted more responsibility to mortgage originators.
Not exact matches
When using short sale assistance, the
seller enjoys a
number of benefits, including no costs to them, no impact on security clearance, minimal impact on credit history and the opportunity to use the VA home
loan benefit again in the future.
By raising the
number of seller financing transactions from 3 to 5 that an individual can participate in without having to register as a mortgage
loan originator, H.R. 5287 would increase housing opportunities to moderate and low - income families, as well as first time homebuyers, without removing any safeguards that protect consumers against abusive lending practices.
Although the
seller's preference was to sell the remaining portfolio to one or a very limited
number of investors, HFF provided investors with a menu approach − that is, they were given the opportunity to bid on the entire portfolio, any group
of loans or individual
loans.
Settlement agents, including one submitting an ex parte submission, and trade associations representing settlement agents and the title insurance industry offered a
number of other examples: closing costs unrelated to
loan costs paid by or on behalf
of the consumer; payments to discharge any defects, liens, encumbrances or other matters requiring curative action discovered during a title search or examination; any prorated or per diem amount where the underlying rate does not change; insurance fees; home warranties; lender reserves for taxes and insurance and amounts paid to a State or local government; recording costs and other fees incurred for the consumer's convenience, such as wire fees, notary fees, and endorsement fees; and changes due to consumer -
seller negotiations or as a result
of local custom or practice.
However, TILA, RESPA, and their implementing regulations currently do not expressly require the disclosure
of: (1) The email address
of the creditor (unless the creditor is also the
loan originator, in which case it must be disclosed on the GFE but not on the RESPA settlement statement); (2) the name, email address, and phone
number of the consumer's primary contact with the creditor; (3) the email address
of the closing agent; (4) the name, email address, and phone
number of the consumer's and
seller's real estate brokers, if any; or (5) the license
number or other unique identifier issued by the applicable jurisdiction or regulating body with which a closing agent or real estate broker is licensed and / or registered, if any.
The total amount that the
seller will pay for total loan costs as determined by paragraph (f)(4) of this section and total other costs as determined by paragraph (g)(5) of this section, to the extent known, disclosed as a negative number, labeled «Seller Credits&r
seller will pay for total
loan costs as determined by paragraph (f)(4)
of this section and total other costs as determined by paragraph (g)(5)
of this section, to the extent known, disclosed as a negative
number, labeled «
Seller Credits&r
Seller Credits»;