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In its war on ‘junk fees,’ CFPB targets mortgage servicing

Housing Wire

“Since mortgage borrowers are captive to a company they never chose to do business with, we are working hard to detect and deter violations of law.” The agency also asserted that deadlines to pay property taxes and homeowners insurance were impacted.

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Understanding Property Taxes and Additional Charges

Eppraisal

As homeowners, we're familiar with the annual ritual of receiving our property tax bill. We'll try to help by shedding some light on the various components that make up your property tax bill, providing you with a comprehensive understanding of what you're paying for. or more of your property's value.

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Opinion: How did homeowners get into home equity prison?

Housing Wire

While the person sits back and watches the value of their house climb to levels that have never been seen before, they are still struggling to get back to their pre-pandemic income level while also having to pay more for homeowner’s insurance and property taxes, not to mention the fact that all of their other bills have increased as well.

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Opinion: Fannie Mae’s title insurance pilot program overreaches

Housing Wire

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. By law it is not an insurer nor is it capitalized or regulated to do this. million in claims.

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When borrowers ‘ghost’ their servicers

Housing Wire

Federal laws aren’t the only ones servicers have to contend with. The National Consumer Law Center (NCLC) identified executive declarations and court orders in 34 states as of April 2021. To compare, according to the Mortgage Bankers Association ( MBA ) data, new foreclosure cases were at 0.8%

Law 370
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What Metaverse real estate means for mortgage professionals

Housing Wire

Today, the law is not yet clear on whether or not virtual land in the Metaverse is “actual” real estate. There is no public guidance from state or federal regulators at the time of this writing as to whether mortgages for virtual real estate are governed by traditional laws and regulations that govern traditional mortgages.

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New Yorkers and Californians Flock to Florida

Empire Appraisal Group

As far as expenses, California, New York and Illinois are all in the top 10 for state income tax, while Florida boasts no state income tax at all, as well as lower property taxes. Ron DeSantis signed into law a policy that waives out-of-state tuition at some universities for grandchildren of Floridians.