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Professional Educator Blog

  • NJ Application Disclosure Form

    The New Jersey Department of Banking and Insurance, Division of Banking, has established a new model application disclosure. The disclosure, required pursuant to N.J.A.C. 3:1-16.3, is now consistent with the federal disclosure requirements in TRID and the disclosures contained Read More

  • SUPREME COURT RULES ON EXTENDED RESCISSION RIGHT

    By opinion dated January 13, 2015, the United States Supreme Court held in Jesinoski v. Countrywide Home Loans, Inc. 2015 U.S. Lexis 607 (2015), that a borrower wanting to exercise a right of rescission on a loan under the Read More

  • CSBS FINES LENDER FOR SAFE ACT VIOLATIONS

    On April 13, 2015, The Multi-State Mortgage Committee (“MMC”) of the Conference of State Bank Supervisors (“CSBS”) entered into a settlement with New Day Financial, LLC for violating the testing and education requirements of the SAFE Act. Pursuant to Read More

  • HUD SUBSTANTIALLY REDUCES COSTS OF FHA LOANS

    The Department of Housing and Urban Development (“HUD’) has reduced THE FHA annual premiums for new borrowers, effective January 26, 2015. Borrowers with case numbers assigned on and after that date will be eligible for the reduced annual mortgage Read More

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