Court lets borrower sue lender for false promises made during short sale negotiations. (Click on title to read entire post)
Alabama Banking Department reaching out to industry trade groups to see if there can be some latitude on the “seller financing” issue. Stay tuned for developments. (Click on title to read entire article.)
Alabama Banking Department says ALL seller financing of a “dwelling” requires a mortgage loan originator’s license EXCEPT when the seller’s personal residence is the property being sold. (Click title to read entire article.)
I’ve requested clarification from the Alabama Banking Department regarding seller financing and the need for a mortgage loan originator’s license.
Seller financing of a dwelling may need to meet the requirements of the Truth in Lending Act, in addition to the new mortgage loan originators license law.
How much will a lender bid at the foreclosure of an Alabama property, and what are the standards for determining if a bid is so low that a court might set the foreclosure aside?
Fannie Mae reverses its in-house rule restricting loans on property with unexpired rights of redemption. Alabama foreclosure investors are back in business.