Kevin W Hardin

Kevin W. Hardin is a 22 year veteran of the Mortgage and Real Estate industries. He holds a Juris Doctor (JD) degree from Concord Law School and a CMB (Certified Mortgage Banker) from the Mortgage Bankers Association. He is a Senior Loan Officer at HomeStreet Bank. He works with Borrowers, Attorneys, Title Companies, Real Estate Agents and Mortgage Companies on mortgage law issues.

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

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, CMB has acted as Director of the Mortgage Mediation Group for the last … [Read more...]

Marketing Services Agreements

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

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?

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 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...]

Flagstar Bank and the California Homeowner Bill of Rights

What does Flagstar Bank and the California Homeowner Bill of Rights have to do with each other? On September 29th, the Consumer Financial Protection Bureau ("CFPB") took action against "Flagstar Bank for violating the CFPB’s new mortgage servicing rules by illegally blocking borrowers’ attempts to save their homes." In that action the CFPB fined Flagstar Bank $10 Million and requires that … [Read more...]

Title Company Needs To Pay Attention

Title Company Needs To Pay Attention Title company needs to pay attention to what is going on at the CFPB. On September 30th, 2014 the CFPB announced they had entered into a Consent Agreement with Lighthouse Title, a Michigan title insurance agency, to pay $200,000 for illegal kickbacks under their Marketing Services Agreements ("MSA"). RESPA cannot be more clear on this topic, but this Title … [Read more...]

Principal Reduction Scam Results in Conviction

Principal Reduction Scam Results in Conviction On September 15, 2014 Alan David Tikal was convicted on 11 counts of mail fraud and one count of money laundering in a mortgage fraud scheme. Tikal's business, names KATN, targeted homeowners that were having difficulty paying their mortgage. He promised a principal reduction of up to 75% of the mortgage by promising to buy the mortgage from the … [Read more...]