As previously announced, the VA have posted new regulations applicable to all VA refinance loans other than an interest-rate reduction refinance loan (“IRRRL”). The VA is informally classifying these refinance loans as:
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An essential aspect of our new support for cooperative loans (details of which can be found here, here, and here) is that we currently only support these loans to the extent accepted by FNMA….
ORS 1345.05(A)(4) requires the Ohio Attorney General to publish a disclosure that describes acts and practices in connection with residential mortgages that are unfair, deceptive, or unconscionable and to make such disclosure available on its website. Subsection (G) of the same section requires lenders to make this disclosure available to consumers that are applying for a mortgage loan….
Md. Code Ann., Tax-Prop. § 12-108(g) exempts from a recordation tax certain refinance security instruments “to the extent that it secures the refinancing of an amount not greater than the unpaid principal amount secured by an existing [instrument] at the time of refinancing ….
As a part of our efforts (see here and here) to expand the scope of our support for loans secured by a borrower’s ownership shares and lease in a cooperative unit (“cooperative loans”), we are pleased to announced that we will be rolling out support for these types of loans in Alaska,…
On December 17, 2018 the Department of Veterans Affairs (“VA)” published VA Circ. 26-18-30 and an interim final rule in the Federal Register (83 FR 64459 [2018]) implementing some of the requirements recently passed under the “Economic Growth,…
As previously announced, the California Department of Business Oversight (“DBO”) published new disclosure forms (in Spanish) to be used once CA SB 1201 (2018) became law, which it did on September 11, 2018 with a practical effective date of January 1,…
Through our Manufactured Home Limited Power of Attorney (Cx6874), a borrower appoints an entity (usually the lender) as the borrower’s “attorney-in-fact” in connection with a manufactured home, giving the “attorney-in-fact” limited powers over the titling of the manufactured home (e.g.…
On December 19, 2018 Gov. John Kasich (R-OH) signed into law OH SB 263 (2018) which (inter alia) enacts the “Notary Public Modernization Act” by amending various sections of Chapter 147 of Ohio’s Revised Statutes….
As previously announced both here and here, the Consumer Financial Protection Bureau (“CFPB”) has updated a couple of the dollar amounts specified in various parts of Federal Regulation Z (12 CFR Pt. 1026), which amounts are required to be adjusted annually for inflation….
