The NMP Blog

“Mortgage E-Verify Act” to Prevent Mortgage Fraud by Illegal Aliens

Submitted by Prevent Mortgag... on February 26, 2010

The Mortgage E-Verify Act, introduced would require that the identity of all applicants for new or modified mortgages held by Fannie Mae or Freddie Mac or insured by the FHA, be confirmed through the E-Verify program of the Department of Homeland Security.
U.S. Congressman Rep. Kenny Marchant from Texas has just introduced a bill intended to prevent mortgage fraud by illegal aliens.... Read More

Murder led prosecutors to “Operation Bankroll” Fraud Scheme

Submitted by Prevent Mortgag... on February 26, 2010

An investigation dubbed "Operation Bankroll" involving an assortment of schemes including money laundering, identity theft, mortgage fraud and larceny. The indictment charges that between 2006 and 2009, the defendants participated in a series of financial and real estate scams in order to steal and launder money from the clients of a law firm, as well as clients of an Abstract Company.
... Read More

Real Estate Agent Pleads Guilty in Short Sale Mortgage Fraud Scheme

Submitted by Prevent Mortgag... on February 26, 2010

A Connecticut, a licensed real estate agent, has pleaded guilty from her involvement in a "short sale" mortgage fraud scheme. The charges had stemmed from an alleged "short sale" mortgage fraud scheme involving four properties located in Connecticut.
A "short sale” of a home involves a lender who enters into an agreement to release its mortgage or lien on real property in exchange for an... Read More

Mobile Signing Gets More Capabilities

Submitted by estherbb on February 24, 2010

DocuSign, a NAR partner, today announced expansion of its mobile signing offering by updating capabilities of the ESIGNControl application for the Apple iPhone. ESIGNControl enables DocuSign clients to use their Apple iPhone to access, send, sign and manage electronic documents. It is a powerful tool for managers to track their sales through robust reporting functionality. ESIGNControl is... Read More

203(k) Rehab Loan Program: Foreclosures Present Challenges, Opportunity

Submitted by John Walsh on February 22, 2010

The recent wave of foreclosed properties has wrought havoc upon the housing market. These properties have dragged down the prices of neighboring homes as well as increased the number of homes on the market, further depressing property values. However, there is a silver lining in this otherwise dark cloud, and that is the opportunity to take advantage of the FHA’s 203(k) mortgage loan program... Read More

Five Reasons to Stay in the Trenches

Submitted by Tom Ninness on February 20, 2010

Five Reasons to Stay in the Trenches
I don’t know about you, but I feel that the competition is going to thin out even more in 2010. For many, last year and so far this year has been very challenging. I believe that we will continue to see challenging times, however; the strong will survive and here are five reasons to stay in the game.
1. To have success, you have to endure... Read More

Commercial Loan Licensing Requirement Resources

Submitted by Melissamichele on February 18, 2010

Hello,
I am looking for a matrix that indicates the licensing requirements for commercial loans in the US. I have an outdated one but was looking for a resource for a current one. Any ideas?
Something that indicates if a license is required in any of the US or if there is an exclusion, or if bonding or brokering is a factor.
Thanks!

Looking lenders for SPA Resort in Italy “high-risk”

Submitted by RichMondInvest on February 16, 2010

The largest Spa Resort & Wellness industry ever developed in worldwide.
The project is majestic was born in distant 2005 by a team specialized a marketing and sales for over 15 years with a proven track record, who has been working in the wellness industry for the last 10 years.
It is situated in Italy the heart of Tuscany hills Metallifere Lustignano is situated in the... Read More

Hey homeowners, your equity just grew (well, some of you)!

Submitted by Andrew T Berman on February 14, 2010

Just got done reading Ken Harney's Homeowner equity makes surprise turnaround. Ken reported on the "Flow of Funds" survey performed on homeowners. Here's of the interested stats. 
"...net equity grew by nearly $1 trillion between the recession's nadir in the first quarter of 2009 through the third quarter. From last June 30 through Sept. 30, net equity rose by $418 billion."

Ken... Read More

Lessons from the "Shark Tank"

Submitted by Tom Ninness on February 13, 2010

Shark Tank-When to Walk Away
“Shark Tank” is a reality television show that premiered on ABC on August 9, 2009. Each episode features a series of investment proposals from the owners/creators of a business. The presentation must request a specific sum of money from the Sharks and offer up a certain percentage ownership stake of the business in exchange. The presentation typically... Read More