Getting training as a loan processor...

The business of loan processing can be a lucrative field if you know where to get training and how to get your foot in the door.  There are numerous types of processor positions including conventional mortagage, loan modification, and commercial loan processor positions. What does a processor do? ...

Loan Modifications for Commercial Proper...

There appears to be some good news for the struggling commercial real estate industry as it appears the IRS has eased up its position on loan modifications.  The tax agency has decided to let lenders modify loans without taking a big tax hit, even if borrowers are current in their monthly payments. In...

What is a forensic loan audit?...

What is a forensic loan audit and why you may need one as part of your loan modification. In the past mortgage companies and lenders became quite relaxed with their compliance with federal guidelines for lenders. If your loan was created in the year 2000 and up to 2005 it is very likely that it may...

Homebuyer Tax Credit Extended and Expand...

Last month, a new Homebuyers Tax Credit bill was signed into law. The bill extends the tax credit for first-time homebuyers (FTHBs), as well as opens it up to current homeowners who are looking to buy. And even if you aren’t looking to purchase – pass on this article to anyone you think might...

Obama releases new Short Sale Guidelines...

The Obama administration has laid out guidelines that should make it easier for borrowers to sell their homes via shortsale.  The program also makes it easier for borrowers to voluntarily transfer ownership of properties through a deed in lieu of foreclosure. Short sales can yield a higher price...

Treasury goes on the offensive to improv...

The Obama administration disclosed a plan on Monday to increase pressure on mortgage companies to reduce monthly payments for troubled homeowners. Under the guidelines, the government will fine lenders that fail to find ways to increase the number of homeowners who are given relief on their mortgage...