RESPA and TILA Violations
Date: Fri, 04/17/2009 - 15:25
Also, did you do it yourself, or pay an attorney or mod company to do a "forensic audit" of your loan documents?
Here's the thing. Depending on when the original loan closed, i
Here's the thing. Depending on when the original loan closed, it's really hard that a company would violate RESPA and TILA regulations. There are several attorneys that view these documents before they go out. It's too costly for the lender to violate these.
What do you feel that has been violated?
I work for a mortgage company, I process loans and do compliance
I work for a mortgage company, I process loans and do compliance. As SASSY asked, what do you feel has been violated?
Quote:I work for a mortgage company, I process loans and do comp
Quote:
I work for a mortgage company, I process loans and do compliance. As SASSY asked, what do you feel has been violated? |
I"m just looking for leverage and trying to figure out what things may be common violations. I've read that 70% of mortgage loans violate at least one RESPA or TILA regulation.
Not really. Maybe a few years ago but not anymore. There are t
Not really. Maybe a few years ago but not anymore. There are too many checks put in place to make sure this doesn't happen.
Sorry...I don't think it's a way to go. And even if they did violate something, it doesn't make you exempt from paying them back. You still borrowered the money from them.
Refresh my memory...tell me again why you're trying to settle with them?
Sorry...That was me that just posted as a guest. I forgot I was
Sorry...That was me that just posted as a guest. I forgot I wasn't logged in. I have a bad habit of doing that.
tila and respa violations
Hi, Actually it is true that there are violations that make a loan recindable in approximately 40% of loans. I think 70% is very high. In order for the loan to be recindable it has to be less than three years old, cant be purchase money. There are a lot of potential violations. However, if what you want is to work out a loan modification you dont really need a violation. I have been very successfull at getting mods for my clients. I think audits have become a big thing to do and of course pay for.
JoAnna Jensen
pleasanton, ca