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Hot Topics in Lending Law

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bullet The Mortgage Crisis, Causes and the FHA Solution Federal Reserve rate increases and the collapse of the mortgage backed securities (MBS) market played a significant role in the Mortgage Crisis. New FHA programs offering flexible loans in high cost areas up to $729,750 may help ease the crisis in the months to come..
bullet Predatory Lending Dangers, disclosures and restrictions applicable to loans with high interest rates or loan costs.
bullet Truth in Lending, Right to Rescind Minor errors could allow a borrower to rescind a defaulted loan years after escrow closes.
bullet Right to Privacy Lenders are advised to assure confidentiality of borrowers' personal information through development of a privacy policy, contractual provisions with vendors and proper monitoring.
bullet New Issues in Credit Reporting A Credit Bureau's unilateral determination of identity theft can bar sale of a loan.
bullet YSP's and Broker Fees RESPA has dramatically altered California law on Finder's Fees.  Different rules apply to points and Yield Spread Premiums.

 

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