Search results
Results from the WOW.Com Content Network
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development. Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Paltering differs from a lie of omission in the following way, as described by Todd Rogers of the Kennedy School: When selling a used car with engine trouble, a lie of omission would be a silent failure to correct a buyer who said, "I presume the car is in excellent shape and the engine runs well", while paltering would involve deceiving the ...
Errors and omissions (E&O) insurance protects businesses from claims of negligence or inadequate work, serving as a critical safeguard for individuals and businesses in various industries.
In law, an omission is a failure to act, which generally attracts different legal consequences from positive conduct. In the criminal law , an omission will constitute an actus reus and give rise to liability only when the law imposes a duty to act and the defendant is in breach of that duty.
An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and residential transactions.
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Donate