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Evaluating Your Borrower’s Assets and Debts When They File for Bankruptcy
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Evaluating Your Borrower’s Assets and Debts When They File for Bankruptcy

private lender servicing, private mortgage loan servicing companies

Evaluating Your Borrower’s Assets and Debts When They File for Bankruptcy

Note Servicing Center2023-01-27T13:36:52-08:00private lender servicing, private mortgage loan servicing companies|

When a borrower files for bankruptcy, their assets and debts are evaluated by the court. The court will then determine whether the borrower can repay their debts and, if so, how much they can repay. If the court finds that the borrower cannot repay their debts, they will be discharged from them. As a lender, you can prepare for bankruptcy filings by evaluating the borrower's assets and debts, as well as their ability to repay their debts.

Enforcement Relief for HMDA Final Rule Announced by CFPB for 2021
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Enforcement Relief for HMDA Final Rule Announced by CFPB for 2021

private lender servicing, private mortgage servicing companies

Enforcement Relief for HMDA Final Rule Announced by CFPB for 2021

Note Servicing Center2023-01-27T13:42:17-08:00private lender servicing, private mortgage servicing companies|

The CFPB has announced that it will be relaxing its enforcement of the 2020 HMDA final rule in order to give financial institutions more time to comply with the new requirements. This enforcement relief will apply to both reporting and disclosure requirements, and will remain in place until December 31, 2021. This means that institutions will not be subject to penalties for non-compliance with the new rule during this time period.

Understanding & Patient Support for Small Businesses Filing for Bankruptcy
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Understanding & Patient Support for Small Businesses Filing for Bankruptcy

private lender loan servicing, private lender servicing

Understanding & Patient Support for Small Businesses Filing for Bankruptcy

Note Servicing Center2023-01-27T13:37:25-08:00private lender loan servicing, private lender servicing|

Filing for bankruptcy is a difficult decision for anyone to make, and it can be an especially difficult time for small businesses. When your client files for bankruptcy, it is important to be understanding and patient. You may be tempted to immediately start working on a new project or trying to get paid, but it is important to remember that your client is going through a difficult time. It is important to be understanding and patient, and to work with your client to ensure that they are getting the help they need.

Inflation Slows Down: Good News for Borrowers as Interest Rates Remain Low
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Inflation Slows Down: Good News for Borrowers as Interest Rates Remain Low

loan servicing for private money lenders, private lender servicing

Inflation Slows Down: Good News for Borrowers as Interest Rates Remain Low

Note Servicing Center2023-01-27T13:38:07-08:00loan servicing for private money lenders, private lender servicing|

Inflation has been a worry for the Fed in recent months, as it has threatened to erode the purchasing power of American consumers. However, recent data shows that inflation has slowed down, which may lead the Fed to pause its rate hiking plans. This is good news for borrowers, as it means that interest rates will remain low.

Learn How Technology Is Automating Home Equity Loan Processing To Reduce Costs and Enhance Security
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Learn How Technology Is Automating Home Equity Loan Processing To Reduce Costs and Enhance Security

loan servicing for private money lenders, private lender servicing

Learn How Technology Is Automating Home Equity Loan Processing To Reduce Costs and Enhance Security

Note Servicing Center2023-01-27T13:39:23-08:00loan servicing for private money lenders, private lender servicing|

As the home equity space continues to grow, lenders are looking for ways to reduce costs. One way to do this is by using technology to automate the process. This can help reduce the amount of time it takes to close a loan and can also help reduce the amount of paper that is used. Additionally, lenders can use data to better target marketing efforts and to identify potential fraud.

Investing in Mortgage Tech: Making the Mortgage Process Easier and Faster in the 21st Century
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Investing in Mortgage Tech: Making the Mortgage Process Easier and Faster in the 21st Century

private lender servicing

Investing in Mortgage Tech: Making the Mortgage Process Easier and Faster in the 21st Century

Note Servicing Center2023-01-27T13:40:07-08:00private lender servicing|

As we move further into the 21st century, it's becoming increasingly clear that "mortgage tech" is something that we're going to have to start paying attention to. It's not just a fad or a gimmick – it's a genuine necessity, and those who are investing in it now are the forward thinkers who are going to be ahead of the curve in the years to come. What is mortgage tech? Essentially, it's any technology that can make the process of getting a mortgage easier, faster, and more efficient. This can include anything from online applications and digital signatures to automated underwriting and fraud detection. The benefits of investing in mortgage tech are obvious – it can make the process of getting a mortgage simpler and more straightforward, which is good for both borrowers and lenders. In addition, it can help to speed up the process and make it more efficient, which can save everyone involved a lot of time and money. So if you're thinking about getting a mortgage in the near future, it's definitely worth looking into some of the new mortgage tech that's out there. It could very well be the key to making the process as smooth and stress-free as possible.

FHFA: Mortgage Loan Guarantee Fees Changed to Reduce Costs for Borrowers
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FHFA: Mortgage Loan Guarantee Fees Changed to Reduce Costs for Borrowers

private lender servicing, private mortgage loan servicing

FHFA: Mortgage Loan Guarantee Fees Changed to Reduce Costs for Borrowers

Note Servicing Center2023-01-27T13:41:49-08:00private lender servicing, private mortgage loan servicing|

In an effort to make pricing more uniform and to reduce the overall costs of getting a mortgage, the Federal Housing Finance Agency (FHFA) is making changes to the way that guarantee fees (g-fees) are charged. Upfront g-fees will no longer be assessed on loans with terms of 15 years or less, and all other g-fees will be decreased by 10 basis points. This will result in savings for borrowers, especially those who are taking out shorter-term loans.

How to Ease Your Mortgage Payments: Modification or Forbearance? | Get the Facts Now
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How to Ease Your Mortgage Payments: Modification or Forbearance? | Get the Facts Now

private lender servicing, private mortgage loan servicing companies

How to Ease Your Mortgage Payments: Modification or Forbearance? | Get the Facts Now

Note Servicing Center2023-01-27T13:43:18-08:00private lender servicing, private mortgage loan servicing companies|

There are two ways to ease the burden of monthly mortgage payments when you're struggling to make ends meet: modification and forbearance. A modification permanently changes the terms of your loan, while a forbearance suspends your payments for a set period of time. Each option has its own set of pros and cons, so it's important to choose the one that's right for your particular situation.

AAPL Partners with Lightning Docs for Official Loan Document Provider | Discounts Available
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AAPL Partners with Lightning Docs for Official Loan Document Provider | Discounts Available

loan servicing private lenders, private lender servicing

AAPL Partners with Lightning Docs for Official Loan Document Provider | Discounts Available

Note Servicing Center2023-01-27T13:43:27-08:00loan servicing private lenders, private lender servicing|

The American Association of Private Lenders (AAPL) has partnered with Lightning Docs to serve as the official loan document provider for the organization. As a result of the partnership, AAPL members will have access to Lightning Docs' online platform, which offers a variety of customizable loan documents and e-signatures. The partnership will also provide AAPL members with discounts on Lightning Docs' services.

Learn Your Rights: The Real Estate Settlement Procedures Act (Regulation X)
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Learn Your Rights: The Real Estate Settlement Procedures Act (Regulation X)

private lender servicing, private money loan servicing

Learn Your Rights: The Real Estate Settlement Procedures Act (Regulation X)

Note Servicing Center2023-01-27T13:44:54-08:00private lender servicing, private money loan servicing|

As a consumer, it’s important to be aware of your rights when it comes to real estate transactions. The Real Estate Settlement Procedures Act (Regulation X) is a federal law that protects consumers in these transactions by requiring disclosure of certain information and prohibiting certain practices. For example, Regulation X requires that loan originators give borrowers a Good Faith Estimate of all settlement charges within three days of receiving a loan application. This estimate must include a breakdown of all fees, so that the borrower can shopping around for the best deal. Additionally, Regulation X prohibits certain practices, such as kickbacks and fee splitting, which can increase the cost of a loan for the borrower.