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Mortgage Home Issues: Your Rights
from: Mortgage & Debt FactsConsumers have rights when it comes to their mortgage home endeavors. Federal law assures that every potential homebuyer is protected from discrimination on the basis of sex, race, national origin, age, marital status, color and religion. Those who receive public assistance funds, those who are handicapped and people with children under the age of eighteen should be treated with the same consideration as any other customer.
Consumer credit protection Laws are designed to ensure that everyone receives equal treatment and service in the for a mortgage home loan. A lender can not take any of the above listed factors into consideration when deciding on whether or not to approve the application. These factors have no direct bearing on your ability to acquire financing for your property.
Requirements of Mortgage Home Loan Officials
The representative should not take your race, sex or age along with any of the above mentioned issues into account in your dealings. The numbers speak for themselves. This professional should remain completely objective and focus solely on your credit history, the appraisal, your work history and the amount of the loan.
Any subjective speculation has no place in this type of dealing. For example, a loan officer is disobeying federal law if she states that a single woman with two children can’t possibly buy a new home. This is pure speculation that has no real basis.
Your experience with the lending institution should be the same as any other applicants. You can expect to be willingly given an application upon request. No one should discourage you from applying. Also, you should be given any pertinent information that you require in the application process.
The lender’s representative should be willing to discuss your options when it comes to their mortgage home loans. The information should be quite involved and you should have an idea of which product might serve your specific needs. You should also have a clear understanding of the qualifications for the loan during this phase.
If you decide to pursue the home mortgage loan further, you have every right to fill out the application and present it to the lending institution. You can expect to provide information pertaining to your finances including your savings, salary and credit history. You can also expect to provide written proof of these subjects.
The lender also needs to see an appraisal for the value of the property. This is a necessary step in the process. Once your paperwork is in order, including the amount requested for the loan, the company has to provide a timely decision regarding your application.
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Allied Home Mortgage News
Deutsche Bank to pay $202 million US mortgage settlement - Reuters
 Wall Street Journal | Deutsche Bank to pay $202 million US mortgage settlement Reuters A case against Allied Home Mortgage Corp and two of its executives is pending. The case is USA v Deutsche Bank AG et al in the US District Court for the Southern District of New York, No. 11-02976 (Additional reporting by Jonathan Stempel; ... Deutsche Bank to Pay $202 Million Over Mortgage Fraud Deutsche Bank in $202m settlement with US |
Oakland Wants Banks to Clean up Blight - KQED
Oakland Wants Banks to Clean up Blight KQED Yet more than twice as many homes went into default. Take the dilapidated townhouse Hernandez finds so aggravating. Fannie Mae just bought it. But neighbors say it became a dump months ago, around the time Allied Home Mortgage issued a notice of ... |
Police Log: An Attempted House Break and Unauthorized Oil Changing - Patch.com
Police Log: An Attempted House Break and Unauthorized Oil Changing Patch.com The rest of the home was secure, police said, and extra checks of the area have been requested. Business Alleges Oil Changing (2:09 pm) – A representative for Allied Home Mortgage on High Street reported to police that someone had been allegedly ... |
Lloyd's Says It Won't Pay Tab For Allied's Fraud Defense - Law360 (subscription)
Lloyd's Says It Won't Pay Tab For Allied's Fraud Defense Law360 (subscription) By Lance Duroni Law360, Wilmington (May 16, 2012, 6:15 PM ET) -- Lloyd's of London underwriters filed suit Tuesday seeking to escape footing the bill for Allied Home Mortgage Capital Corp.'s defense against a government lawsuit accusing it of lending ... |
A Parade of New Home Trends - Honolulu Star-Advertiser
 Honolulu Star-Advertiser | A Parade of New Home Trends Honolulu Star-Advertiser By Karen Nakamura Posted in: BIA The 56th annual BIA-Hawaii Parade of Homes is Hawaii's biggest open house of new homes held statewide. This year's parade is Oct. 6, 7, 13 and 14. The printed guidebook will be distributed in the Sunday, Sept. |