Internet Refinancings Take Critical Step Forward

The real estate industry, being rooted in practices developed over generations, is slow to change. In today’s business climate, inflexibility can prove disastrous. But, last month, the South Carolina Supreme Court moved its real estate industry toward modernity by endorsing a national lender’s internet-refinancing process, which the court found satisfies the state’s existing requirements for attorney involvement. View Full Post
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Quicken Loans and Title Source Hit with $11 Million Penalty in Appraisal Class Action

Earlier this month, a federal court awarded $11 million to a class of West Virginia mortgage borrowers who accuse Quicken Loans, Inc., and Title Source, Inc., of cheating them on home appraisals. The lawsuit completes a perfect storm of troublesome factors that culminated in massive liability for Quicken and Title Source. View Full Post
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Ace Your CFPB Examination with This Handy Study Guide

The Consumer Financial Protection Bureau not only brings enforcement actions against companies it believes broke the law. It also supervises and examines the business operations of entities that are not suspected of illegal activity. If your operation gets hit with a CFPB exam, there is one thing you must do to prepare: review the bureau’s Supervision and Examination Manual. View Full Post
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