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New RESPA rules & loan origination

July 10, 2011

Here’s a helpful primer from Chicago Title regarding the new RESPA rules’ effect on the mortgage industry. These rules were designed to build more transparency in the lending process prior to close of escrow. This may make for pretty dry reading. However, with these updates—though some may deem complications—to the mechanics of the closing documents, […]

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FHA buyers now free to collude with flippers

January 25, 2010

Okay, okay…you’ll have to excuse the title’s cynicism. You know how I feel about flipping. Guess what? HUD put a one-year moratorium on the FHA 90-day anti-flipping rule. So come February 1st, expect to see more FHA buyers writing offers. It seems quite a silly move, considering the predicament the FHA currently faces .

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Before offering on that flipped property

January 11, 2010

Buying with all cash? Then you can skip this one. (Or read on and learn what your competitors are facing.) Lots of property – especially in the outer burbs – are being offered by private investors who acquired them in foreclosure or pre-foreclosure. The problem facing buyers is that many lenders are refusing to loan […]

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