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New Rule Requires Additional Appraisals Before Mortgages Are Transferred

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Another good idea gone awry? The NY times is reporting that NY Attorney General Cuomo has made an arrangement that will require additional appraisals before mortgages are transferred to investors. Intended to protect homeowners, this could end up costing borrowers more. Someone will be paying for the additional appraisals. Here is the article I have […]

Will A New Law Make It Even Harder To Get Loans? Mortgage Brokers May Have Greater Liability

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The NY Times is reporting that a new law about to be approved in New York State may put a greater burden on mortgage brokers to make sure that borrowers can afford to repay new loans. Here is the story.

Scott Lanin

New Rule Requires Additional Appraisals Before Mortgages Are Transferred

/in /by

Another good idea gone awry? The NY times is reporting that NY Attorney General Cuomo has made an arrangement that will require additional appraisals before mortgages are transferred to investors. Intended to protect homeowners, this could end up costing borrowers more. Someone will be paying for the additional appraisals. Here is the article I have […]

Scott Lanin

Will A New Law Make It Even Harder To Get Loans? Mortgage Brokers May Have Greater Liability

/in /by

The NY Times is reporting that a new law about to be approved in New York State may put a greater burden on mortgage brokers to make sure that borrowers can afford to repay new loans. Here is the story.