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.

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...]

CFPB Takes Action Against Wells Fargo and JPMorgan Chase For Illegal Kickbacks

illegal kickbacks

CFPB Takes Action Against Wells Fargo and JPMorgan Chase For Illegal Kickbacks CFPB took action today against Wells Fargo and JPMorgan Chase for illegal marketing services arrangements i.e illegal kickbacks. Copy of complaint. The consent orders, filed today, "would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JPMorgan Chase, and $11.1 million in … [Read more...]

Being Harassed By Debt Collectors?

harassed by debt collector

Being Harassed By Debt Collectors? Are you being harassed by debt collectors? There are many reasons why we end up in debt. It may be the holidays, an emergency, school, vacation etc. We don't plan to go into debt and not pay, but sometimes something happens in life and suffer a hardship preventing us from paying our debts. When those debts are not paid, the collectors will come calling. … [Read more...]

NAR Sends Letter To CFPB On Mini Correspondent Business

NAR send letter to CFPB

NAR Sends Letter To CFPB On Mini Correspondent Business On september 30th, we found out that NAR sends letter to CFPB on mini correspondent business. I had previously reviewed CFPB's position on this, in our blog post, on July 14, 2014 of this year.The National Association of Realtors' ( NAR's) position is that any move by the CFPB would limit access to financing for consumers. I agree with … [Read more...]