(3/11/2010)
(3/8/2010)
(2/10/2010)
Key Elements of HERA-MDIA:
Upfront Fee Collection Except for the credit report fee, upfront fees (including the appraisal fee), cannot be charged until the 4th business day after the lender issues your TIL (Truth in Lending) mortgage disclosures. This rule may impact the timing of ordering your appraisal.
TIL Re-disclosure Due to APR Increase
APR (Annual Percentage Rate) is different from your Interest Rate as it also takes into account your closing fees. If your APR (Annual Percentage Rate) increases by more than .125% on a fixed-rate loan or .250% on an ARM from the APR in the initial TIL (Truth in Lending) mortgage disclosures, the TIL must be revised and re-disclosed to you. Your closing may be scheduled for the 7th day after the final TIL has been generated.
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Buying a Condo: Now vs. Later (New York Times - January 28, 2010)
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Reaching Out to Condo Buyers (New York Times - November 22, 2009)
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New York Appraisals Get Shortchanged (New York Times - September 27, 2009)
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Contract Signings Rise, and Deal-Watchers Exhale (New York Times - August 30, 2009)
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Low Appraisals Sabotage More Deals (The Real Deal - July 31, 2009)
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The Top Originator: Melissa Cohn (Mortgage Originator - April 2009)
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'Cashing Out' Is Now Harder (New York Times - March 29, 2009)
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Making Your Way Through The Mortgage Market (CNBC.com - March 23, 2009)
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Need a House Fast? Skip the Pre-Approval (Main Street - March 3, 2009)
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For Home Buyers, More Bank Roadblocks (New York Times - February 1, 2009)
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Mortgages Less Easy To Come By For The Self-Employed (NY1 - December 16, 2008)
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Interview with Melissa Cohn (Marquis Who's Who in America - December 2008)
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Bailout Efforts Now Focus On Main Street, Not Banks (CNBC.com - December 4, 2008)
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Mortgage Refinance Applications Soar As Rates Fall (Dow Jones Newswires - December 3, 2008)
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U.S. Consumer Loan Aid Will Trickle Only So Far (New York Times - November 27, 2008)
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Bear market squeezes mortgages (The Real Deal - November 3, 2008)
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Foreign apartment buyers grow scarce (The Real Deal - October 28, 2008)
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Lenders tighten up standards for co-op loans (The Real deal - October 3, 2008)
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The Default Phenomenon Comes to N.Y. (The New York Sun- September 25, 2008)
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For Buyers, Many Roadblocks (The New York Times - September 21, 2008)
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Mortgages: Considering the Seven-Year Plan (The New York Times - September 21, 2008)
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Jump in Mortgage Rates Disappoints Home Buyers (Wall St. Journal - September 18, 2008)
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Amid mortgage woes, first-time buyers seek solutions (The Real Deal - September 1, 2008)
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It's a Wonderful Life (In Jersey) (Newsweek - August 2, 2008)
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What You Need to Know to Get a Mortgage (The New York Times - June 1, 2008)
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The 100 Most Powerful People in New York Real Estate (The New York Observer - May 19, 2008)
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Need $23 Million Fast? (The New York Observer - April 28, 2008)
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Jitters for First-Time Homebuyers (The New York Times - February 17, 2008)
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Waiting to see if ARMs fallout reaches Manhattan (The Real Deal - February 2008)
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What's Next for New York City Real Estate? (The New York Times - January 13, 2008)
REGISTERED MORTGAGE BROKER - NYS BANKING DEPARTMENT/ALL LOANS ARRANGED THROUGH 3RD PARTY LENDERS • LICENSED MORTGAGE LENDER/BROKER - CT DEPARTMENT OF BANKING • LICENSED MORTGAGE LENDER - NJ DEPARTMENT OF BANKING AND INSURANCE/ALL LOANS ARRANGED THROUGH 3RD PARTY PROVIDERS • LICENSED MORTGAGE BROKER MB 2274 - MA DEPARTMENT OF BANKING/WE ARRANGE BUT DO NOT MAKE LOANS • LICENSED MORTGAGE BROKER - VT DEPARTMENT OF BANKING • CORRESPONDENT MORTGAGE LENDER - FL DEPARTMENT OF FINANCIAL SERVICES • LICENSED MORTGAGE BROKER AS TMMC MORTGAGES UNDER CA FINANCE LENDERS LAW • LICENSED MORTGAGE BROKER AS TMMC MORTGAGES - NH BANKING DEPARTMENT • LICENSED MORTGAGE BROKER - NC COMMISSIONER OF BANKS • RESIDENTIAL MORTGAGE LICENSEE - IL DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION DIVISION OF BANKING