Items Tagged with 'Pennsylvania'

ARTICLES

  • Philadelphia considering new law designed to limit reverse mortgage foreclosures

    Bill addresses “unscrupulous practices” from some reverse mortgage lenders
    The city of Philadelphia is set to consider new legislation that would “prevent the spread of reverse mortgage foreclosures” in the city by “closing a loophole” in the city’s laws that some lenders allegedly exploit to foreclose on reverse mortgage borrowers.
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  • CEO of banned lender Seckel Capital charged with lying to HUD

    John Seckel accused of making false statements to HUD about company’s finances
    Back in July, HUD banned mortgage lender Seckel Capital from originating or underwriting FHA-backed mortgages after an investigation found that company repeatedly lied to the FHA about its financials. As part of the action, HUD also suspended the company’s owner and CEO, John Seckel, from doing business with the federal government. As it turns out, the government isn’t done with Seckel yet.
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  • Pennsylvania now requires nonbank servicers to be licensed to operate in state

    Deadline for licensing applications is June 30, 2018
    Nonbank mortgage servicers have five months to get licensed in the state of Pennsylvania if they want to keep operating in the state. The Pennsylvania Department of Banking and Securities announced this week that it will soon begin accepting licensing applications from nonbank servicers as part of the state’s move to increase oversight into mortgage servicing.
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  • Redfin Mortgage expanding to Pennsylvania

    Online real estate brokerage began lending in Texas, Illinois, and D.C. last year
    Last year, Redfin rolled out a mortgage lending operation in Texas. Then, Redfin expanded its mortgage operation to include Illinois and Washington, D.C. Now, Redfin Mortgage is expanding once again, and will begin offering mortgages to borrowers in Pennsylvania.
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  • Mini-CFPB? Pennsylvania attorney general launches consumer financial protection unit

    Former CFPB enforcement lawyer Nicholas Smyth will lead state watchdog
    With the Consumer Financial Protection Bureau now entering its seventh year squarely in the crosshairs of the Republican Party, one state is taking matters into its own hands to ensure that its residents are protected from the unscrupulous practices of financial services companies, no matter what happens to the CFPB.
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  • KML Law Group adds John Goryl as senior counsel

    Will represent firm’s clients in Central Pennsylvania
    Goryl will represent KML’s clients at hearings and Sheriff’s sales. Additionally, Goryl will serve as a liaison with housing advocates and counseling agencies in Pennsylvania and oversee the title curative department.
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  • MERS wins again; this time in Pennsylvania

    Superior Court upholds ruling on MERS’ authority to assign mortgage
    A Superior Court ruling in Pennsylvania saw another legal victory for MERSCORP in a wrongful foreclosure lawsuit. The mortgagor, Matthew Gibson, had sued Bank of America, claiming that the bank did not hold the note securing his mortgage and therefore had no rights to foreclose. Gibson also claimed that MERS did not have the authority to assign the mortgage.
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  • Should real estate agents disclose murder?

    Modern day haunted houses...
    A majority of states don’t consider psychological stigmas to be material defects to a home; which means you can purchase a home that hosted a murder, suicide or another gruesome event without even knowing it.
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