Randy Kirsch's Blog,, NMNLS #1012303 - Your Dedicated Mortgage Consultant, Right Trac Financial Group, Inc. NMLS#2709

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Mortgage and Lending - Right Trac Financial Group, Inc., NMLS# 2709 - NMLS #1012303
Generally, an easement is a right to use the property of another for a specific purpose and lasts forever.  A license on the other hand is a right to use the property of another for a specific purpose, but a license can generally be terminated by the grantor as specified in the license or otherwi...
With the recent reduction of the mortgage insurance premiums ("MIP") by FHA, there will most likely be more demand for FHA loan products and some general statements that have been made in the past need to be clarified.  In particular there is a general statement going around that FHA MIP is for t...
Most homeowners today have a property insurance policy that is commonly referred to as an "All Perils" policy.  Truth be told the policy does not come close to covering all perils.  With the recent rash of earthquakes in eastern CT (about 12 in about a week), my wife has been bugging me to check ...
The Mortgage Bankers Association President and CEO has stated that the Consumer Financial Protection Bureau web page that was unveiled two days ago should be altered to remove the "Rate Checker" tool.  A prior post entitled "Learning About 'Owning a Home'....from CFPB" outlined the new educationa...
An article that appeared last week on marketwatch.com was parroted today in REALTOR® Magazine, indicating that there is growing concern among lenders over the increased activity by homeowners' associations to exercise super lien powers to foreclose on common interest community units (e.g., condom...
The Consumer Financial Protection Bureau ("CFPB") has added a new page to its website entitled, "Owning a Home".  I recalled after taking a quick look at the new page that some concern has been expressed in the press that people are not shopping around enough for their mortgage needs and are taki...
A recent article in Mortgage Compliance Magazine is making the statement that dire warnings to prepare for the implementation of the new TILA-RESPA Integrated Disclosures ("TRID") are being ignored by a majority of those who will be most affected.  The new disclosures, also referred to as "Know B...
In two separate appeals from a judgment of the trial court, the Virginia Supreme Court seems to have been selective in the laws it applied to arrive at its decision.  The appeals involve the sale of property known as "Rock Hall" in 2007 by Donald and Nancy Devine to Charles Buki and Kimberly Mars...
Nationally syndicated real estate news columnist Ken Harney has indicated in an article on tucson.com that the new Fannie Mae appraisal risk assessment application that is due to be launched on January 26, 2015, may cause more problems than it solves.  In a post entitled, "Fannie Appraisal Review...
Some details have now been released by the Department of Housing and Urban Development ("HUD") regarding the implementation of President Obama's executive order to lower annual mortgage insurance premiums on FHA loans.  HUD has released Mortgagee Letter 2015-01 dated 01.09.2015, which can be foun...

Randy Kirsch

(NMLS# 1012303) Your Dedicated Mortgage Consultant
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