Nathan Fransen's (nfransen) Blog

I recently did a search on Google for "mortgage audit" and came up with 369,000 entries.  I am amazed at how many "forensic loan auditors" there now are.  I know of companies charging anywhere from a couple hundred bucks to ten thousand.  I am a practicing attorney and my focus is on mortgage lit...

I remember two years ago thinking, what are all of these loan officers and real estate agents going to do after the contraction of the industry?  Well i think most of know the answer.  Loan Modifications have become more than just a cottage industry.  As a mortgage attorney and real estate broker...

I have a client that fell victim to an unscrupulous realtor.  Basically the client was pursuaded to purchase 3 homes as investments which would be flipped within a couple months.  The problem was that it happened to be end of 2006.  There are other details involved, but my issue is this; I want t...

Occassionally i get a client that comes to me and says they want to do a "RESPA request" or a "QWR" (Qualified Written Request).  What they are referring to is a requirement under the Real Estate Settlement Procedures Act (RESPA) that requires lenders to reply to a written request for information...

I've been asked a few times recently what happens if the Good Faith Estimate is inaccurate or never provided after origination.  RESPA requires certain initial disclosures, some of which are included in the GFE.  The law requires they be sent out within 3 days of application.  Noticeably silent i...

In my practice we have gotten more and more into loss mitigation services.  Specifically, we have been working with borowers to negotiate modifications.  I have noticed a wide variation between different lenders approaches to this common problem.  As an example, Suntrust Bank seems very proactive...

One of the things we check for on all cases is the accuracy of the fees disclosed to the borrower.  When a borrower signs there loan they receive a Truth In Lending Disclosure Statement.  This form, which disclosed the APR, etc., satisfies the "material disclosure" requirement of the Truth In Len...

I have been asked more and more what the effect of bankruptcy is on a foreclosure.  As a California attorney i want to limit this discussion to California residents, although the laws in other states are likely similar.  A bankruptcy filing stops all foreclosure proceedings.  This is true even if...

Given the implosion of the mortgage industry, I am noticing more and more advertisement for business loans.  Many former hard money lenders are now focusing on "business loans".  Many lenders mistakenly think these loans are not subject to the Truth In Lending Act.  I am handling several lawsuits...

The requirements under the Truth In Lending Act and the Homeownerhip Equity Protection Act (HOEPA), also found in Regulation Z (226.32), are very difficult to comply with.  I have had numerous successful suits against hardmoney lenders and i rarely see one that was done correctly.  There are esse...