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: CMB (Certified Mortgage Banker), CMC (Certified Mortgage Consultant, and CMPS (Certified Mortgage Planning Specialist) designations. I completed my Juris Doctor studies at Concord School of Law. I have spent the last 5 years assisting thousands of homeowners understand their legal and tax obligations on their mortgage as it relates to their underwater home.

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: CMB (Certified Mortgage Banker), CMC (Certified Mortgage Consultant, and CMPS (Certified Mortgage Planning Specialist) designations. I completed my Juris Doctor studies at Concord School of Law. I have spent the last 5 years assisting thousands of homeowners understand their legal and tax obligations on their mortgage as it relates to their underwater home.

Round 2 of Loan Modifications and Short Sales

Loan Modification

Round 2 of Loan Modifications and Short Sales If we go back and look at the bulk of the loans that were either paid short in a short sale or modified by a HAMP or HAMP-like loan modifications, their vintage was 2005 to 2007. What this means is that loan modifications that fixed some aspect of affordability back in 2008 through 2011 are going to be resetting in 2015. Most HAMP loan mods or … [Read more...]

CFPB Clarifies Mini-Correspondent

Mortgage Broker to Correspdondent

CFPB Clarifies Mini-Correspondent Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders There has always been something of an uneven playing field for mortgage brokers vs mortgage bankers i.e. Those entities that broker mortgage loans to correspondents or banks and those entities that fund loans with "their own … [Read more...]

Mortgage Forgiveness Debt Relief Act Ends 2013

Mortgage Forgiveness Debt Relief Act WHY THE EXPIRATION OF THE MORTGAGE DEBT FORGIVENESS ACT RARELY APPLIES TO ARIZONA SHORT SALES AND FORECLOSURES After years of extensions to the Mortgage Debt Forgiveness Relief Act, this act will expire at the end of this year. As a result, homeowners were pressured to sell their properties prior to the end of the year and if unsuccessful, told that … [Read more...]

Lower FHA Loan Limits For 2014

Lower FHA Loan Limits

Lower FHA Loan Limits For 2014 Hud just release Mortgagee Letter HUD No. 13-184 HUD ANNOUNCES NEW FHA LOAN LIMITS for 2014 TO TAKE EFFECT JANUARY 1ST The existing FHA loan limits for 2013 around the country were the result of HERA Housing and Economic Recovery Act of 2008, which is not going to be extended this year. HUD has now announced that those FHA Loan Limits for 2014 are lower. You … [Read more...]

Dodd Frank

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Dodd-Frank Act and its Impact on Investors, Private Lenders and Real Estate This 90-minute free workshop will discuss the implications of the Dodd Frank ACT (DFA) that was signed into law in 2010. The DFA created the Consumer Finance Protection Bureau (CFPB) and gave it authority to promulgate rules to govern every aspect of the financial services market, including real estate and … [Read more...]

No Dual Agency On FHA Short Sales

No Dual Agency

No Dual Agency on FHA Short Sales That is right. While many real estate agents were sleeping, a new rule is about to go into effect on October 1, 2013 and NAR (National Association of Realtors) is fighting, last minute, to prevent the implementation. I am always amazed at these last minute "Chinese Fire Drills." In a Mortgagee Letter, dated July 9, 2013, (Mortgagee Letter 2013-23) HUD put all … [Read more...]

Fannie and Freddie To Lower Loan Limits

Fannie and Freddie Loan Limits Lowered

Fannie and Freddie to lower loan limits. In President Obama's speech in Phoenix back the first week of August, the plan for Fannie Mae and FHLMC a.k.a. Fannie and Freddie, was to begin the process of reducing their role in the mortgage market, winding them down and creating a market for private capital. One of the first steps was to begin to refinance underwater mortgages into mortgage securities … [Read more...]

Arizona Loan Modification

Arizona Loan Mofification

Arizona Loan Modification Short Sale vs Arizona Loan Modification is the question to consider when attempting to prevent a foreclosure or make a key decision when faced with negative equity.  In a short sale, you will sell the home for less than what you owe and walk away from the loan, with the goal of not owing the Lender anything on the prior loan post short sale.  A Mortgage Modification is a … [Read more...]

Minimum Five Days On MLS Per Fannie Mae and Freddie Mac

Freddie Mac Short Sale

Minimum Five Days On MLS Fannie Mae and Freddie Mac recently announced requirements for Fannie Mae short sales listed in the multiple listing service (MLS). Starting August 1st, each new short sale listing must maintain an “active” status for a minimum five days on MLS; and that timeframe must include at least one weekend. Freddie Mac announced similar guidance for Freddie Mac short … [Read more...]

Mortgage Loan Officers Qualify for Administrative Exemption from Overtime

Mortgage Loan Officer Overtime Exemption

The U.S. Court of Appeals for the District of Columbia Circuit vacates the 2010 Department of Labor (DOL) interpretation of wage and hour law that mortgage loan officers do not qualify for the "administrative exemption", for overtime, under the Fair Labor Standards Act (FLSA). In Mortgage Bankers Association v. Harris, the court ruled to "reverse the District Court order denying MBA’s Motion for … [Read more...]