CA's Bill of Rights; The Confusing World of FHA & Section 35 loans, QM, HOEPA Violations, APOR, and Freddie's Rate Survey

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Posted To: Pipeline Press

Wells Fargo has decided that it time to embark on a $100 million expansion in Iowa : This is in spite of the industry concerned about less volume and lower margins, and Wells' market share sliding. Meanwhile in California.....according to Barclays, " recent loan-level data suggest that foreclosure-to-REO roll rates and short sales have dropped sharply since the start of the year. " They attribute much of the decline to the implementation of the California Homeowner Bill of Rights , which was signed into law in mid-2012 but became effective only on January 1, 2013. The new legislation adds responsibilities and restrictions to the foreclosure process in California, including prohibitions against dual-track foreclosures, required notice periods, civil penalties against robo-signing, and requirements...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/04222013-hoepa-apor-qm-pmms.aspx

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