Mortgage Lenders

An introduction to Bill Parish’s outlook on investment management and the importance of an adviser’s true independence.

Duration : 0:7:39

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In this video SEC-registered investment manager Bill Parish examines 529 College Savings Plans, sharing his views on how to best choose and set up the right plan for these important savings. Also, a look at Oregon’s 529 vendor Oppenheimer’s failure to protect its plan’s most conservative funds from massive losses, while similar funds around the country remained stable.

Duration : 0:8:36

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Predatory Lending, Mortgage Fraud,Real Estate,Foreclosure,Subprime,FBI,FDIC,Bailout, Judicial Injustice,Value inflated 136%, BB&T Bank,loan, congress, Judicial Injustice, Adjustable Rate,News,CNN, Mortgage

Duration : 0:5:2

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We discuss the problems with the Alt-A and Sub Prime mortgage market
The property of 401 Park Hill Circle Mechanicsburg Pa is in foreclosure
we look at how it got there

Duration : 0:7:59

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Technorati Tags: Alt-A, daniel, Fannie, foreclosure, franklin, Freedie, mudd, prime, raines, sub, Subprime, syron

http://www.ezkeyre.com There has never been, nor predictably will there ever be, a better time to buy foreclosures or cash flow real estate. Buy and hold or buy and flip, but now is the time. Those that act now will have the freedom to do whatever they want by the time the masses get back in the game.

Duration : 0:4:14

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This video describes a simple effective rescue plan for Fannie Mae in addition to the inside story regarding what is happening in the financial markets.

Duration : 0:8:29

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Amidst the Real Estate & Mortgage Meltdown; Foreclosure Fraud & Scams; Real Estates Future is Great. First Time Home Buyers, FHA Loans & Seller Paid Closing Costs. Go To http://RealEstateMarketingThisWeek.com

Part 4 (Excerpt)

Mortgage Backed Securities, Collateralized Debt Obligations and Tranches Oh My!

Now, I put the colorful title on How to Screw the Bank that Screwed You for no other reason than to get people to click on it to get the information, because frankly, a lot of people were given really bad loans, were given really bad advice, and sometimes you have to fight back.

Here is one of the things and again Ill try to make this as uncomplicated as possible. Let’s say you bought the house and you got the loan through a mortgage broker. Well that mortgage broker didnt really give you the loan. They bought that loan from a wholesaler of mortgages. That wholesaler of mortgages, in turn bought that loan from one of those big huge Wall Street banks, most of which are out of business right now.

Important thing to point out if I may, Velocity Financial is a mortgage broker, we do get our money from several wholesale banks, I just wanted to point that out because we’re glad were a broker.

Just to continue the analogy. So the broker buys it from a wholesaler, who buys it from the Wall Street bank, and like I said, most of them are out of business now. And what the Wall Street bank did with thousands of these loans worth billions of dollars, they put them all together into what is known as mortgage backed securities. That is the stuff you hear like Fannie Mae is selling and there is an interest rate put on them, and what happened to these mortgage backed securities is they in-turn were bought up by other Wall Street banks, combined with other mortgage backed securities and they were called collateralized debt obligations.

Well then these brainiacs on Wall Street decided to chop these collateralized debt obligations up into what is referred to as tranches. So let’s say you had your best quality AAA borrowers in the top tranch . And obviously your ZZZ borrowers were in the bottom tranch. Each one of them was given a specific interest rate, each one of them was rated by a bond rating firm, and each one of them was given insurance.

Well, what happens is as these got split up and sold over time the notes on the mortgages go with the debt itself. So CDO over in Bangladesh owns your mortgage now, but here is the problem, they dont have the paperwork.

So the reason I went through this whole story is in case your bank comes to you and says were going to foreclose what you want to do is go and get yourself an attorney and you want this attorney to go to this bank and say we want you to prove to us that you have standing, that they have the legal right to come after you and foreclose on you. And here is the thing, if they dont have the paperwork, if they dont have the note on the property, they cant prove that they have standing. So whether its the wholesaler, who is foreclosing on you, whether its the servicer, whoever it is, chances are very good that they dont have this note.

So again, he got a little complicated. You want to go to the website http://mortgageanswerman.com and there are several articles there, and a lovely little chart that I drew up, except that it will be much nicer than this piece of paper, and I will have all the information there. I had a friend just recently who was in foreclosure and she made the phone call, and she said, you cannot foreclose on me without the original note. Now eventually it got foreclosed on, but it delayed it several months until they were able to find that note. Chances are they may never be able to find that note.

And in many states, including Florida and Ohio they are very successful at using this tactic to stop or completely do-away-with the foreclosure sale. We dont necessarily want to encourage people to go down this path, right? Were looking for a stall essentially?

Well, hopefully no one will ever have to get to that point. But if you believe that your servicer, your mortgage company is not being nice to you. Especially if you call them up and want to do a loan modification, and they are dragging their feet, filing foreclosure and coming after you, you have to protect yourself. And this is one of the ways you can protect yourself by hiring an attorney and suing them for lack of standing

That is one of the things that I want to talk about that Velocity Financial is involved with a national network of attorneys who do this sort of work. Velocity Financial does not charge an upfront fee for these types of loan modifications, we do hire an attorney and they work with the national network of attorneys to work on your behalf. They do charge a retainer, of course, if they are going to fight for you they need to be paid, however, there are no upfront fees…

Duration : 0:6:36

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If the U.S. financial system is to regain its health, immediate action must be taken to force hedge funds and private equity to be registered with the SEC. Accountability must be restored.

Duration : 0:9:23

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I have been trying to work with First Franklin Home Loan Services in lowering my interest rate and or monthly payment. They have not been willing to work with me and I am now on my way to bankruptcy court. If you can help me work with First Franklin Home Loan Services please email me: nmahlow@yahoo.com thank you in advance for any help you may bring to me and my family.

Duration : 0:9:9

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Technorati Tags: bankruptcy horror stories, foreclosure, mortgage lenders

The Second District Court of Appeal ruled that the law enacted in 2008 to require foreclosing first mortgage holders to pay 1 year or 1% of the mortgage principal, whichever is less, is unconstitutional when applied to mortgages before that date where the Governing Documents provide that the mortgage wipes out the association lien.

Duration : 0:6:52

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Technorati Tags: 720 3085, assessments, collections, Florida, foreclosure, Homeowner Associations