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The Mortgage Crisis, Causes and the FHA Solution Federal Reserve rate increases and the collapse of the mortgage backed
securities (MBS) market played a significant role in the Mortgage Crisis. New
FHA programs offering flexible loans in high cost areas up to $729,750 may help
ease the crisis in the months to come.. |
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Predatory Lending Dangers, disclosures and restrictions applicable to loans with high interest rates or loan costs. |
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Truth in Lending, Right to Rescind Minor errors could allow a borrower to rescind a defaulted loan
years after escrow closes. |
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Right to Privacy Lenders are advised to assure confidentiality of borrowers' personal
information through development of a privacy policy, contractual provisions with vendors and proper monitoring. |
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New Issues in Credit Reporting A Credit Bureau's
unilateral determination of identity theft
can bar sale of a loan. |
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YSP's and Broker Fees RESPA has dramatically altered California law
on Finder's Fees. Different rules apply to points and Yield Spread Premiums. |
