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Contracts for deed are under federal mortgage protections: CFPB 

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. among subprime loans.

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CFPB Acts Against Contract-for-Deed Investors Targeting Low-Income Borrowers

Appraisal Buzz

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

Contracts 367
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Contract Data Is Pending Data Is Lagging Data

Miller Samuel

Throughout my career, I have seen brokerage firms publish pending/contract reports, touting pending trends as more reliable than reports based on closings. The simplistic, uninformed argument for pending sales is that contract dates occur before closing dates, so they are more current. I plan to develop one someday.

Contracts 195
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CFPB outlines issues with illegal ‘junk fees’ by mortgage servicers

Housing Wire

These include excessive late fees and fees for unnecessary property inspections. Mortgage servicers charged the top late fee amount allowed by relevant state laws, even when homeowners’ mortgage contracts capped late fee amounts below state maximums,” the CFPB said.

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5 best Arizona real estate schools for 2024

Housing Wire

Prospective Arizona real estate agents must fulfill a 90-hour prelicensing program from an Arizona Department of Real Estate (ADRE)-approved school and pass a six-hour contract writing course , for a total of 96 class hours. Course includes contracts used in real estate transactions with samples and practical contract completion exercises.

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9 tips for homebuyers in non-disclosure states

Housing Wire

Be diligent with a home inspection Since non-disclosure states lack public information on property conditions, a thorough home inspection becomes even more critical. You can request the seller disclose any known issues, and negotiate repairs or price adjustments based on the inspection’s findings.

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Preserving the American Dream

Appraisal Buzz

In 2018, Fannie Mae launched its Pre-Foreclosure Property Preservation Program, offering mortgage servicers the opportunity for Fannie Mae to handle the management of inspection and preservation activities on delinquent loans secured by vacant properties. We are exploring batching inspections. How is AI impacting the sector?