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.

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

Screen Shot 2013-12-05 at 5.09.14 PM

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...]

Return of the piggyback loan

Piggyback loan

The piggyback loan is making a comeback according to an article in Mortgage Professional America. Piggyback Loans were all the rage during Arizona's real estate bubble. Alternative Agency Loans a.k.a. Alt-A or non Fannie and Freddie conventional loans, allowed a homeowner to go to 100% of the homes value at $0 down and avoid private mortgage insurance (MI). Today the piggyback loan that is … [Read more...]

CFPB Finalizes Procedures for Supervising Nonbanks Engaged in Risky Conduct

Nonbank Supervision

The CFPB has adopted its long-awaited final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risks to consumers.  The final rule will be effective 30 days after its publication in the Federal Register. Or in other words, CFPB to begin watching Nonbank Mortgage Brokers and Bankers. Yes, that's you loan officers.  Clock is ticking. Start thinking … [Read more...]