MiT and Marc Israel in the News
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U.S. Treasury takes aim at money laundering in the luxury-home market

In two of the nation’s priciest markets, U.S. title companies will soon have a new duty: ferreting out money laundering schemes involving luxury homes. Beginning in March, the investigative wing of the U.S. Treasury Department will require title companies to report the names of the buyers in high-end deals in Manhattan and Miami when properties […]

February 9, 2016

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Feds Seek Money Launderers

Treasury Department To Require Title Insurance Companies To ID Cash Buyers Starting March 1, the U.S. Department of Treasury will require title insurance companies to identify the actual people behind the cash purchases of high-end properties in Manhattan and Miami. The pilot program runs through Aug. 27, 2016, and is intended to combat money laundering […]

February 4, 2016

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Everything You Wanted to Know About TRID, But Were Afraid to Ask

December 30, 2015

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So the Fed Raised Rates, Now What?

The Federal Reserve made a bold move yesterday, which most of the mortgage industry predicted would happen before 2015 comes to a close. The federal funds target rate was raised by a quarter of a percentage point from its near-zero level where it has been since 2006. “This action marks the end of an extraordinary […]

December 21, 2015

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Don’t fear the rate hike

Anticipation of a rate increase ahead of the Federal reserve’s next meeting has caused an increase in mortgage applications, but such a move will have little lasting impact on the industry, according to one veteran. “I don’t think the expected rate increase will have a big impact on originator business; it’s been foreshadowed for the […]

December 15, 2015

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A potential drastic change to the industry

Fannie and Freddie could become things of the past, depending on who takes office next year, and one industry veteran explains why originators should care. “Congress is in discussion to determine what to do with Fannie and Freddie,” Marc Israel, president of MiT National Land Services, told Mortgage Professional America. “Clearly, if there is dissolution […]

December 15, 2015

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Post-TRID loan-document violations involve mostly technical errors so far, Moody’s report shows

Some 90 percent of home loans in the first wave of mortgages finalized after the new consumer-disclosure rules under TRID went effective in October could have potential violations, Moody’s has reported. Third-party reviewers discovered problems in a sampling of roughly 300 loans originated by more than a dozen lenders, the agency said in a bulletin […]

December 15, 2015

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An eye on future regulation

The Consumer Financial Protection Bureau may not be done interfering with the mortgage industry, according to one industry professional who is predicting further regulations to come. “The CFPB will be looking to flex its muscles even more next  year; they’ve already given very clear signals that they’re going to be a strenuous regulator,” attorney Marc […]

December 14, 2015

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