|
||||||
|
This article was written by Brian Collins, Editor, Source Media, Published in National Mortgage News and Origination New. This article can be found on free distrubution at Source Media. A private sampling of Rural Housing Service loan originations discovered that lenders have become more lax this year in verifying income and the employment of borrowers. Executive vice president and owner of Quality Mortgage Services, Tommy Duncan said [more...] Mortgage investors conducting mortgage audit reviews turn up potential red flags such as undisclosed debt, income and employment misrepresentation, occupancy fraud and appraisal issues which are many of the focus findings discovered during the mortgage audit that will prosecute a repurchase claim. As mortgage bankers defend against a mortgage repurchase, some consistent patterns appear that may help mortgage bankers to prevent mortgage repurchase claim. As a [more...] The interpretations of Mortgagee Letter 2010-20 continue to manifest itself among the mortgage industry. Back in late 2009, the comment period began and a group of nation’s top post-closing quality control companies came together to address this issue through the Mortgage Bankers Association (MBA) with Tamara King acting as liaison between the MBA and the Federal Housing Administration (FHA). At that time, the FHA was [more...] |
||||||
|
Copyright © 2012 Tommy's Blog - All Rights Reserved |
||||||
