My name is Kevin W. Hardin and I am the Director of the Mortgage Mediation Group, which is a practice group at the law firm of McCarthy Law. I am a 25 year veteran of the Mortgage and Real Estate industries. I hold the following credentials: JD (Juris Doctorate) from Concord Law School and CMB (Certified Mortgage Banker), I have spent the last 6 years assisting thousands of homeowners understand their legal and tax obligations on their mortgage as it relates to their underwater home or issues with a foreclosure.

About Kevin Hardin

My name is Kevin W. Hardin and I am the Director of the Mortgage Mediation Group, which is a practice group at the law firm of McCarthy Law. I am a 25 year veteran of the Mortgage and Real Estate industries. I hold the following credentials: JD (Juris Doctorate) from Concord Law School and CMB (Certified Mortgage Banker), I have spent the last 6 years assisting thousands of homeowners understand their legal and tax obligations on their mortgage as it relates to their underwater home or issues with a foreclosure.

Short Sales Not Extinct Yet

Short Sales Not Extinct Yet

Short Sales Not Extinct Yet Unlike the dinosaur, Short sales are not extinct yet. However, the number of short sales has reduced dramatically as many Arizona and California homeowners have recovered much of their equity. Today, there are still Arizona and California homeowners that think that short sales have gone away but, short sales are not extinct yet. Why have they come back or … [Read more...]

CFPB Is Not Self Funded

How is the CFPB Funded

CFPB Is Not Self Funded If the CFPB is not self funded, then how are they funded? I have been to many a presentation by various parties in the real estate industry that represent that the CFPB is self funded, however the CFPB is not self funded. Let's start with how they came into existence. You can read the long version at the The CFPB strategic plan, budget, and performance plan and … [Read more...]

Steering Consumers to Higher Interest Rates Costs Mortgage Company $19 Million

Mortgage Steering

CFPB Orders RPM Mortgage to Pay $19 Million for Steering Consumers Into Costlier Mortgages It appears that mortgage companies and loan officers still do not grasp the full extent of the Consumer Financial Protection Bureau's (CFPB) effort to protect consumers from higher loan costs from steering consumers into higher interest rates. The CFPB announced today new fines for RPM Mortgage. The … [Read more...]

PAY-TO-PLAY MORTGAGE KICKBACK SCHEME

Pay-To-Play Mortgage Kickback Scheme

PAY-TO-PLAY MORTGAGE KICKBACK SCHEME   It seems like every day we are hearing about another enforcement action by the CFPB. This time it was against a Title Company and Mortgage Loan Officers. See announcement from the CFPB here Their scheme is being called a Pay-To-Play Mortgage Kickback Scheme. They knew it was wrong and illegal, if not, why did they create separate companies to … [Read more...]

Expiration of The Mortgage Forgiveness Debt Relief Act

Expiration of The Mortgage Forgiveness Debt Relief Act Did it kill short sales? It should have had little impact on them. Expiration of The Mortgage Forgiveness Debt Relief Act (MDRA) has left questions in the minds of Arizona and California homeowners. Will homeowners owe a tax to the IRS if their lender forgives their mortgage debt in a foreclosure or short sale? While there are many articles … [Read more...]

Keep Your Home California

Keep Your Home California

Keep Your Home California Keep your home California has announced changes to two of its programs. The Principal Reduction Program and The Mortgage Reinstatement Assistance Program have been expanded. In a recent article, Keep Your Home California, explains that “Despite an improving economy and job market, there are still many homeowners who are struggling every month or just need a little … [Read more...]

Loan Officer Compensation

Loan Officer Compensation

Loan Officer Compensation We discuss the Consumer Financial Protection Bureau's (CFPB) results of examinations of mortgage companies and their compliance with the loan officer compensation rule. Every 6 months the CFPB releases its Supervisory Highlights. This is a summary of actions taken, by the CFPB, when violations have been discovered. From July 2014 through December 2014 the CFPB … [Read more...]

Underwater Home

Underwater Home "Underwater Home" may not mean what you think. According to CoreLogic 10.8% of all mortgage homes in the US are underwater, that is, more is owed on the home than it is worth. For Arizona that number is larger. 18.7% of Arizona homes are underwater with the Greater Phoenix area showing 18.8% of mortgaged homes are underwater. Does it end there? No. If you owed $100,000 on a … [Read more...]

Mortgage Mediation Group at McCarthy Law PLC

Mortgage Mediation Group Scottsdale, AZ – Kevin McCarthy, Managing Partner of McCarthy Law PLC, announced today the addition of the Mortgage Mediation Group to its legal services offering.  The firm has engaged Kevin W. Hardin to act as Director of the Mortgage Mediation practice group for the firm. Kevin W. Hardin, JD, CMB has acted as Director of the Mortgage Mediation Group for the … [Read more...]

Marketing Services Agreements

marketing services agrements

Marketing Services Agreements Marketing Services Agreements are dying a slow death. I have already discussed this issue in two of my previous posts. The first one concerned Lighthouse Title and the next one was concerning Wells Fargo and Chase. In each case the CFPB made itself very clear how it intends to interpret and enforce RESPA Section 8(a) and 8(b). You can read those regulations at 24 CFR … [Read more...]