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Smaller title agents, mortgage lenders and technology providers might need a little more time to work through issues regarding the new disclosure requirements, said Rafael Castellanos, president of the New York State Land Title Association.
If lenders can't get the Consumer Financial Protection Bureau to back off its Aug. 1 integrated mortgage disclosures deadline, they're at least hoping to get some leniency while they adjust to the new process.
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Mel Watt, the former North Carolina lawmaker, has earned praised for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.
Mel Watt, the former North Carolina lawmaker, has earned praised for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.
Confusion about pre-approvals is rampant and has been the subject of vehement debate.
Farm banks have enjoyed several years of robust loan volume, but declining farm income has them on guard for increases in delinquencies and more eager to use government-guarantee programs.
Lower-than-expected interest rates and greater demand for purchase loans has been a boon for both mortgage lenders and the crop of new or returning players providing warehouse lines of credit.
The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.
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