Many Lenders Were Ahead of New Mortgage Rules

In this Heartland Article, Michael comments on The Consumer Financial Protection Bureau’s new qualified mortgage stipulations. Click here to view the full article.   © 2018 Abrams Garfinkel Margolis Bergson, LLP. All Rights Reserved. Attorney Advertising: Please note that prior results do not guarantee a similar outcome.

The Mini-Correspondent Channel: Pros and Cons

Authored by Jonathan Foxx and Michael Barone Several years ago, our firm, Lenders Compliance Group, provided unique guidance to the mortgage division of a bank.* The bank wished to build a special origination platform for its mortgage brokers. At that time, the prevailing regulations required disclosure of the Yield Spread Premium (YSP), and the bank…

To Ensure Compliance, Originators Must Have and Follow Written Policies

In this National Mortgage News article, Michael Barone comments on the need for Lenders to have written policies and procedures to ensure compliance. Click here to view the full article.   © 2018 Abrams Garfinkel Margolis Bergson, LLP. All Rights Reserved. Attorney Advertising: Please note that prior results do not guarantee a similar outcome.

New York Relaxes Subprime Loan Threshold to Free Up Market

In this National Mortgage News article, Michael Barone is quoted regarding recent changes to the Subprime Loan threshold by The New York State Department of Financial Services. Click here to view the full article.   © 2018 Abrams Garfinkel Margolis Bergson, LLP. All Rights Reserved. Attorney Advertising: Please note that prior results do not guarantee…

National Mortgage News – Attorney: Final LO Comp Rule Better, But Still Use Caution

In this National Mortgage News article, Michael Barone comments on the need for caution regarding loan officer compensation. Attorney: Final LO Comp Rule Better, But Still Use Caution By Bonnie Sinnock While the final loan officer compensation rule is relatively “favorable” compared to earlier versions, originators should still use care in exercising some of the new improvements to…