Tips For A Fast Underwriting

How long does underwriting take? Underwriting—the process in which mortgage lenders verify your assets to get a home loan—can last a little as two to three days, but typically takes over a week to finish.Underwriting happens right before you close on a...

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CFPB Changes its Mission Statement

CFPB Acting Director Mick Mulvaney has officially changed the Bureau's mission statement.The mission statement had previously read: “The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules...

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How to Play Nice with Dodd Frank

As with all legislation, there is the issue of interpretation. In this entry, we will drill down, quickly, what the Dodd Frank Act did, why it did it, and how to comply with it as an investor or private lender.Dodd Frank’s 849 page lending overhaul, as...

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Dodd Frank Gets a Trimming

The amendment to Dodd Frank in April brought a well-needed lift to small banks and credit unions by alleviating certain ability-to-repay requirements.  Assumedly, private lenders and investors could fall into this category of creditor, however, would still be held to...

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