October 8, 2015 Regarding: 907 Mimosa, Vacaville CA 95688 Offer from Robert Asmus & Catherine Asmus Dear Mr. & Mrs. Spencer, Please see attached offer for your property on 907 Mimosa Dr. From Mr. & Mrs. Asmus. This offer is for full asking price of $569,000, Conventional/Jumbo loan. The buyer is paying for her own Title and Escrow, with a 45 day close of Escrow. My clients have been preapproved by Quicken loans, and is also working with another local lender Jack Kammer, from Scenic Oaks.…
Union Bank and Trust Company Wire Transfer Risk Assessment Overview Many consumers and businesses conduct electronic bank-to-bank financial transactions through wire transfers. A wire transfer is a process of moving money from one account to another, across financial institutions. While this activity is convenient, it does not come without risk. Union Bank and Trust (the Bank) acts as both an originator and receiver of domestic and international wires.…
Jacksonville. It's the type of place where people live on their boats in the marina, just waiting for the opportunity to take said boats out on the St. Johns River. Where life and culture intersect. Where life is lived out loud. But sometimes due to your poor credit and finances, you feel left out of Jax's dynamic loop.…
Today, the Court reverses both rulings of the Pennsylvania Supreme Court. First, the Court will address the property issue. The Saver Act does not comply with the Fifth Amendment or Fourteenth Amendment. The Court needs to return to a more classic reading of the Public Use Clause. The Pennsylvania governments’ seizure of land falls under the public benefit, not the public use.…
PennyMac Loan Services, LLC is required to have physical safeguarding controls in place to secure consumer, employee, and Company Sensitive Information and maintains an Information Security Policy to do so. All individuals granted physical access to any Licensee facility are provided a badge, and must scan their badge prior to entering the premises. Individuals who are not issued a badge must log-in with the Security Desk prior to entering a facility. All employees must maintain a Clean Workspace, which includes desks, computer screens, printers and printer rooms, mail bins, conference rooms, cubicles and offices. All employees must keep workspaces free and clear of any documentation containing Sensitive Information, maintain locked drawers…
When the borrower gets his mortgage from a bank or other lending institution in order to finance his or her house purchase, this transaction is considered to belong to the Primary Market. At this point, the lender has a choice of either servicing the loan for the time equivalent to that loan duration (5, 10, 15, 20, 30 years or any other such term) or sell it to someone else. Some lenders decide that they want a steady and secured income coming from systematic, monthly payments from the borrower. They collect their income in the form of interest earned on the loan. The higher the loan and the longer the term of the loan, the higher the interest going to the lenders' pockets is.…
Fannie Mae foreclosures are properties that the mortgage agency seized from homeowners who defaulted on their payments, explains HUDForeclosed.com. The Federal National Mortgage Association, known as Fannie Mae, is not a direct lender; however, the agency does purchase mortgage loans from direct lenders. As of 2015, Fannie Mae owns over half of all mortgage loans in the United States, according to HUDForeclosed.com. Since Fannie Mae purchases mortgage loans from direct lenders, the agency holds the rights to the loans and the properties backing the loans. Therefore, when borrowers default on their mortgage payments, Fannie Mae holds the rights to foreclose on the properties.…
It was in Larchmont where Becca met her future husband Howie. Howie lived in the same apartment building and was her next door neighbor. At the time, Howie had just started working at Prime Brokerage in New York city, dealing specifically with risk management. Howie’s means of transportation was via train. At first, they started off as friends, and this led to dating.…
A super jumbo mortgage usually consists of financing greater than $1,000,000 for a purchase or refinance transaction, reports Mortgage 101. However, since super jumbo mortgages are not backed by any government agency, the loan limits vary by lender and region. Jumbo mortgages are any loan amount greater than $417,000, as of 2015. The government sponsored agencies Fannie Mae and Freddie Mac set the loan limits. Fannie and Freddie buy mortgages from banks and lenders and securitize the loans for investment purposes.…
At Wells Fargo Home Lending, the Instructional Design Consultants (IDC) are responsible for creating, updating, evaluating and documenting all training for specified lines of business. These lines of business are considered high risk, due to the associated governmental regulations; therefore the training curriculum goes through a yearly “maintenance cycle” and must be updated to ensure highest degree of accuracy. The updates to the training must be completed within an agreed timeframe to avoid internal audit findings and possible Officer of the Comptroller of the Currency (OCC) sanctions. It has been indicated by senior management that nearly 20% of maintenance cycles are not being completed within the documented timeframe. This is problematic due to a recent influx of project work demand, commitment to adhere to internal audit requirements, and increased scrutiny due to governmental regulations.…
Fact: Spearin entered into a contract with the Government to build a dry dock at Brooklyn Navy Yard, in accordance with Government prepared plans and specifications. To proceed with the dry dock construction, Spearin had to relocate a portion of a sewer which ran through the site. Spearin completed the relocation of this section of sewer pursuant to the prescribed requirements of the plans and specifications, and the Government approved and accepted the work. Nearly one year after the relocation of the sewer a dam in a connecting sewer, which was not shown on the Government’s plans and specifications, caused the relocated sewer to flood and burst; consequently, flooding the area excavated for the dry-dock. Spearin promptly notified the Government that it would not resume operations under current conditions unless the Government assumed the responsibility for the damages or remedied the existing condition.…
Rushmore Loan Management Services LLC was formed on September 12, 2008 as a Delaware limited liability company for the primary purpose of servicing residential mortgage loans, and became licensed in the State of North Dakota on April 19, 2016. On July 30, 2010, the Licensee acquired a mortgage loan servicing platform which provided the Licensee the ability to service the portfolios managed by the Licensee and third-party investors. In September 2012, the Licensee established Dakota Asset Services LLC, a wholly owned subsidiary of the Licensee. Dakota Asset Services LLC is a real estate management entity with a focus on the disposition of real estate owned assets. In September 2017, Rushmore Loan Management Services LLC established Black Hills…
Countrywide Mortgages is still in business today. Any business that has been around for all these years must be doing something right. Countrywide was cofounded by Angelo Mozilo in 1969. In the early 2000’s Countrywide Mortgages became the largest provider of home loans in the United States. At that time one and six mortgage loans originated with Countrywide.…
The southern California real estate attorneys at The Law Office of Ernesto F. Aldover provide advice and experience on all aspects of California real property: commercial lease negotiation, drafting of lease agreements, drafting of tenant in common agreements, review and drafting of documents related to the sale, purchase, refinancing or leasing of commercial and residential real estate, easement and boundary agreements, construction contracts, CC&Rs, HOA contracts and much more. As a southern California law firm, we frequently have to step in on behalf of clients regarding HOA boards and the rights and liabilities of homeowners under CC&Rs and other HOA rules and regulations. Do you need the help of an experienced southern California real…
1. Introduction Banking is a network of corporations and regulations that provide a variety of financial services. Basically, banking services provide holding money on behalf of customers, providing loans to businesses and individuals, providing investment and insurance services and so on. Banking system is usually regulated by country’s laws and central banks of individual countries. Finance is usually defined as the science of money management.…