The study’s findings challenge certain beliefs about FHA lending, namely that high insurance premiums, lender overlays and low credit scores are denying many qualified borrowers access to the program.
The New York AG has secured a temporary restraining order barring the loan mod companies from collecting advance fees. The state's top cop also froze their bank accounts.
Chuck Klein, managing partner of Mortgage Banking Solutions, is engaged in roughly 12 transactions. “I think at least six of those will close,” he said.