Paddy Deighan Real Estate Blog

I have written a number of blog posts about the Consumer Financial Protection Bureau (CFPB). This week, it finalized rules to help protect homeowners from poor service and unexpected fees that are charged by mortgage servicers. The new rules follow release of regulations designed to insure that q...

This is very imporant and a huge benefit for many home owners. It is another aspect of the MFDRA that was extended and it has been largely forgotten about or ognored becae the original MFDRA was passed in 2007 A time ago, we had written about the “on again and off again” itemized deductibility of...

The Office of the Comptroller of the Currency (OCC) regulates nationally chartered banks. Two days ago the OCC unveiled an $8.5 billion settlement with 10 large banks that service mortgages. Under the terms of the settlement, more than 3.8 million borrowers who faced foreclosure between Jan. 1, 2...

Fannie Mae and Bank of America (BOA) recently announced an $11.6 billion settlement to a long-standing dispute Monday. Fannie Mae, is a government-sponsored enterprise that buys mortgages and bundles them and then turns them into securities.  It has been legally pressuring BOA to buy back a signi...

Lance Armstronmg is all over the news...what he did was a disgrace to himself and our nation. However, he has done a lot of good for a lot of people. That part is genuine and true. Here is the part that I do not understand. The United States Postal Service is running in the red to the tune of BIL...

These are two additional important aspects of the fiscal cliff deal that could help many homeowners. I did not see this when the Act was passed but the two additional benefits (in addition to the etension of the MFDRA) can help many home owners The Fiscal Cliff deal had a couple more benefits for...

I had an interesting conversation with an Investor from Russia today.  He read two of my recent blogs about a housing recovery.  He commented that lending is tight in the USA yet the sale of homes and the prices of homes are both increasing. It did not make sense to him. I have been a partner in ...

Everything in real estate seems to be cyclical. Housing markets go up and down; interest rates go up and down and so on. The real challenge is knowing when a market will change.  Loan modifications all but disappeared in the Summer of 2010 because servicers were not processing and owners of notes...

Last week, I wrote a blog about the housing recovery and I cited expert opinion that indicates that we are in fact in a recovery. The blog entry was very well received.  Of course there are negative fundamentals that detract from the positive news (such as shadow inventory, unemployment and lendi...

The Consumer Finance Protection Bureau (CFPB) is attempting to redefine who is able to qualify for a mortgage. The CFPB is redefining the term “qualified mortgage” (QM). Lenders will technically have the option of making “unqualified” mortgages to borrowers who do not appear to have the resources...