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California organizations urge CFPB to increase mortgage disclosure transparency

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Mortgage Professional America | 03 Nov 2014, 07:53 AM Agree 0
More than 40 California organizations are calling on the regulator to provide more transparency to the HMDA and to address measurements needed for home mortgages and mortgage modifications.
  • | | 04 Nov 2014, 07:10 AM Agree 0
    Allowing a homeowner the ability to "RE-HELOC" an existing HELOC after the initial 10 year interest only time period has elapsed so the homeowner would get another 10 year window of interest only payments would probably help reduce the number of defaults that now occur when a HELOC "resets" after the original 10 year interest only payment ends.

    Additionally, those who have paid off a home and then do a FIRST LIEN HELOC are treated with great disrespect by an industry that loves cash out re-fi's before other homeowners have ever paid off their home.
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