If you are advertising or marketing mortgage products in Spanish, compliance experts suggest you should provide all requisite disclosures and servicing in Spanish.
The non-cash share of financing for home purchases increased to 75.2 percent in May, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
A ruling late last week by the New York Court of Appeals will likely help provide certainty to non-agency MBS issuers regarding liability from breaches of representations and warranties while limiting claims from investors. The appeals court confirmed a lower court’s ruling in ACE Securities v. DB Structured Products, determining that the statute of limitations for claims of breaches of representations and warranties starts when a deal is closed – not when a potential breach is discovered. “Representations and warranties concern...
Industry observers noted that FAQs didn’t answer some of the big questions that matter to lenders, such as quality control, student debt and pre-funding review requirements.