The housing market implosion in 2007-2010 was largely due to unsubstantiated income claims on mortgage applications, which resulted in lending money that could not be afforded by people. This is the reason that moneylenders are now using 4506-T forms to verify income before lending. The
The Federal sequestration cuts are taking a toll on the economy and the legislation being finalized by the policymakers is expected to hit some of the largest government agencies. The Department of Housing and Urban Development is being considered to be in the danger zone. The
The spring-buying season has turned into a boon for the country with home prices benefiting immensely. If we look at the records from past months, the forecasts are turning true for most of the states. The forecasted growth percentage of yearly, two-quarter and quarterly gains
The long-term fixed rates on mortgages spiked in the last week of June along with bond yields. If we look at the facts, it’s been 30 years since the last largest weekly increase in the fixed-rate mortgage since 17th April 1987. Surprisingly, the 30-year fixed-rate
The housing market in the state of Texas is doing amazingly well at this point of the year with national builders re-entering the market to establish and build new homes. The Dallas Ft. Worth area is being considered as the gold mine for these builders. The
The revision and improvements in the disclosure form requirements has given the opportunity to moneylenders for improving mortgage-closing process. The proposal from Consumer Financial Protection Bureau in this regard also contains a provision wherein the delivery of this new Closing Disclosure has to be done
With reference to the latest reports from HUD and the U.S. Census Bureau, it has been noted that a rise of 2.3% in sales of single-family homes has occurred. The sales numbers are higher than the previous month and show a significant progress. The sales prices
As part of the National Mortgage Settlement, the largest mortgage servicers of the country have paid $50.63 billion to over 6,20,000 homeowners. In order to concentrate on the issues of mortgage loan servicing and foreclosure abuses, the Department of Justice, U.S., Department of Housing Urban
The growing number of mortgages and loan modifications has increased the urgency for a faster approval process by taking it entirely online. A tax return transcript is the dire need of every mortgage origination and loan modification. The 4506-T forms are the only documents in
The Internet is growing like a forest fire since its inception and this has opened doors for criminal activities, frauds, scams, etc. The tax frauds and scams are no exception for cyber fraudsters. While it is suggested that you must report a scam directly to