Arizona Gov. Janet Napolitano has signed the Arizona Uniform Real Property Electronic Recording Act, which authorizes the storage of real property records, including mortgages, in electronic format.The act was adopted based on a model recording act of the same name drafted by the National Conference of Commissioners on Uniform State Laws in 2004. It states that an electronic document satisfies a recording statute that requires a document to be an original, on paper or another tangible medium, or in writing, and that an electronic signature satisfies a recording statute that requires a document to be signed. The act also states that an electronic signature satisfies a requirement that a document or signature associated with a document be notarized, acknowledged, verified, witnessed, or made under oath by someone authorized to sign for the document so long as the electronic signature and all other information required to be included is attached to or logically associated with the document or signature. The Arizona URPERA goes into effect on Jan. 1, 2006.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24