Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A with more Nationwide Mortgage news from my friend Herman Thordsen (www.lendinglaw.com). This report highlights the several states that have updated their laws. Some of this news will keep your business safer and out of disciplinary proceedings.
Here are the headlines:
1. State licensing agencies have one place to look at NMLS to see who did not file the Mortgage Call Report.
2. Alabama joins prosecution of those that rig bids at public foreclosure sales.
3. HUD holds real estate brokerages personally liable when their real estate agents discriminate. This one in Alabama had to pay $29,000 for its real estate agent’s discrimination even though it terminated the agent.
4. Fresno, California Investment Manager gets 6 years in federal prison for talking people into investing in real property.
5. Foreclosure sale is stopped in West Sacramento, California and it is believed the lender had to pay attorney fees for the homeowner. This is using the new Homeowners Bill of Rights for the right purpose. Read it very carefully. If you would like a copy of the pleadings as a model the cost is $150 and we will e mail to you.
6. HUD pursues another rental discrimination claim in San Francisco, California and this property company pays for its discrimination.
7. Jason Sterlino of Hercules, California pleads guilty to bribing bank official to obtain residential mortgage loans.
8. Daniel Monteiro of Wolcott, Connecticut pleads guilty to mortgage fraud.
9. Minnesota amends definition of foreclosure consultants to include licensed residential mortgage originators.
10. North Dakota amends definition of good funds and disclosures
11. Three Ohio Mortgage Foreclosure scam artists go to prison for up to three years.
12. Oklahoma makes changes to SAFE Act.
13. Collection agency lawsuits are best handled by your attorney BEFORE you are served with h a lawsuit and especially if you call your attorney at the first contact. You might find this a lot less expensive in the long run.
Click Here to download a free copy of the full report.
That’s it for this time! Make it another great day!
Your Hard Money Lender in Tucson and Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation. Please give me a call at: