The Nevada Supreme Court stripped a prominent Las Vegas attorney of his right to practice law in the state as part of the punishment for his place in a mortgage fraud scheme that defrauded financial institutions of more than $30 million.
Mount Laurel, N.J.-based Freedom Mortgage Corporation purchased the assets of BluFi Lending, a direct mortgage lender with branches in California and Nevada, falling in line with Freedom Mortgage’s strategy to expand its retail lending footprint in the Western U.S.
“We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley. “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.”
It's been headline news this summer that some of the nation's fastest-recovering markets have seen substantial price increases -- markets in California, Arizona and Nevada has seen double-digit gains in 2013 as housing shortages mixed with demand from retail buyers coaxed by low mortgage rates, as well as historically strong investor interest in purchases.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More