John McDermott

The governor of New York and the Department of Financial Services have issued proposed regulations to assist homeowners who are underwater.

Without tax dollars and revenue for governments, which no one wants to pay, things would become quite messy.

Often one of the biggest obstacles to a refi has been the need for a subordination agreement from a junior lien holder.

Lenders need to boost their consumer education spending and watch out for “advertorial” content, according to the feds.

Health care isn’t the only troubling national insurance issue, as anyone with a mortgage near a waterfront already knows. So is flood insurance.

A pre-approval letter should come from a major lender and not some “no name” mortgage broker.

The Homeownership Protection Program is funded with money from the national mortgage settlement to help people avoid foreclosure.

It can be confusing when you share an acronym with a well-known agency in the same industry.

In case you have not been to a closing lately there are a ridiculous number of documents to be signed.

It is becoming more and more common and the fun starts when the financial assistance from parents is attempted to be combined with a traditional mortgage.

We're hearing from Des Moines where two competing real estate companies are engaged in a bitter fight for market share that includes litigation.

We're hearing from New York where one mortgage banker and two MLOs recently entered into settlement agreements with the Department of Financial Services.

We're hearing about the ability of a real estate broker to obtain a cash advance on an anticipated commission to be earned at closing.

We're hearing from the U.S. Court of Appeals, Seventh Circuit, where not one but two cases involving the same Wisconsin mortgage broker were decided.

For the most part what we are hearing is aggravation for title underwriters relating to their title agents.

We're hearing about mortgage servicing problems from both the CFPB and John McDermott.

A million dollar residential closing has been postponed on Long Island, N.Y. because of problems obtaining homeowners insurance.

The Federal Housing Finance Agency is opposed to the idea of local or state governments using eminent domain to restructure mortgage loans, especially loans involving the GSEs.

We're hearing about payday lenders running into trouble with the FTC and New York State for alleged violations of federal and state laws.

We're hearing from the NAR who recently wrote to the assistant secretary of housing about the FHA certification and recertification process for condos.