This is a fascinating behind the scenes story of a quality control manager forced into being a whistleblower.

Hunt wasn’t alone in her worries. According to the government’s suit, Michael Watts, the director of quality control, complained repeatedly to company officials charged with controlling risk. He warned that employees had “marching orders” to fight quality control decisions.

At one large staff meeting, managers praised loan processors for “beating back” the quality control team and getting them

Is it unethical to collect premiums and not issue the insurance?

Hi...Saw your blog online, as I was searching for information.What happens if the closing attorney, who is also a title agent, never files the title insurance policy with the title company, and therefore never pays the title company for the policy that a client has purchased? Is it unethical to do this, and is there an amount of time that the attorney has to file? I'm referring to cases in which

BOA moving on from FNMA

At the heart of the decision is recent changes in mortgage insurance policies. The filing notes Fannie Mae policy where MI rescission must be resolved in a timely fashion. As of Dec. 31, 2011, 74% of the MI rescission notices received had not been resolved, and Fannie began exercising repurchases with Bank of America.


Read more in HW.

The CFPB is taking nominations for its Consumer Advisory Board

The folks at CAARE would like you to sign their petition concerning RESPA statute of limitations.

The Real Estate Settlement and Procedures Act (RESPA) is the enforcement tool of the new Consumer Finance and Protection Bureau (CFPB).   RESPA is a consumer disclosure and anti-kickback law.  However, with a one year statute of limitations, the prospect for meaningful enforcement or fines to act as a deterrent is non-existent.  



For a business intent on paying illegal kickbacks it is only a

Joe sold too much land by accident.

Title ins. co. or bank put wrong survey on the deed   The new owners refuse to sign corrected deed The title co. is going to have me sign a affidavit saying my intention was to sell 3 acres not 11 that was mistakenly noted on deed What will this do for me? They are going to register this along with the deed. Is there anything else i can do to get back my 8 acres? Thank you for your time  Joe


Hi

She shredded the files.

I've been trying to write a post about a title agent who sold her agency to an attorney.  She used to run a few affiliated agencies out of one office - one was owned by a large regional real estate broker.  I wasn't really paying any attention to this matter, infact, I had no idea that the agencies had closed or the lead agency sold.  I just happened to have an unsatisfied mortgage related to a

proposed changes to PA transfer tax regs

CLICK HERE TO READ PROPOSAL

title company wants to pay Realtors commissions for business

I am a Realtor and I have a minority ownership in a title company. The title company wants to formalize a plan to pay me a 'commission' on any deals that I send to them. I would disclose to my clients that I am a part owner of the title company. Is this legal or is this a RESPA violation? The title company is planning to go to dozens of Realtors and offer them a partial ownership deal whereby

Should the seller pay for revised tax prorations based on a new assessment after closing?

Hi Diane,
we sold our home on July 28th, 2011, and i just recieved a letter (Feb 7, 2012) from the buyers of our home that i owe them a check for 231.00 for the price difference in the amount that thier property taxes have now gone up due to the home has gone up in assesed/appraised value. At closing, we paid for property taxes from 1/1/2011-7/28/2011 per the HUD based on the previous years

new Facebook page

Hey, if you like Facebook, visit our new Facebook page and LIKE us!  ;)

Pennsylvania Treasury holding FREE escheat webinar.

The Pennsylvania Treasury is holding a free unclaimed property webinar on Thursday, February 23, 2012, from 2:00 p.m.  -  3:00 p.m. Register NowAll companies and organizations doing business in Pennsylvania are subject to the Unclaimed Property Law, and April 15th is the deadline to file an annual report with Treasury. This webinar will focus on the reporting process, and discuss how to:

thanks to Housing Wire for the link to this NYT link on Fannie Mae

WOW

Mr. Nye LaValle is a RADICAL HERO!!