Renting and Tenant Rights

Where Could Complaints Be Filed Against Mortgage Companies?

Both state and federal governments regulate mortgage lenders. Federal and state laws designed to protect homeowners from unfair and illegal lending practices guide these bureaus. Nearly all states require licensure of mortgage broker businesses and individual home loan officers. Local and federal banks are governed by federal agencies tasked with making sure banks fulfill the fair lending requirements fixed by the federal government.

BBB

The Better Business Bureau, or BBB, is a nonprofit company that provides certification for businesses. Consumers trust the impartial information offered by the BBB about businesses around the nation. You can file a complaint with the BBB and they’ll forward it to the mortgage company to get a response within two weeks. The BBB asks the mortgage firm react within 14 days to your criticism.

State Regulatory Board

Each state regulates banks using their own banking agency. Originators and mortgage companies will also be governed by the state. All mortgage brokers must receive a license before originating any loans. Each state has its own agency that regulates this business. Some states use the same service to control banks and mortgage brokers, though other states regulate mortgage brokers employing exactly the same agency that regulates real estate brokers and appraisers. File complaints with the state agency controlling your mortgage company.

Attorney General

All states have an attorney general’s office. There are many laws, both state and federal, that mortgage lenders must abide by. The attorney general will investigate any reports or complaints of abuse, or violations of the lending laws.

HUD

The Real Estate Settlement Procedure Act, or RESPA, is a federal law which regulates the manner mortgage loans must be originated, disclosed, sold and serviced. You should report violations of your rights under RESPA to the U.S. Department of Housing and Urban Development (HUD). HUD also enforces fair lending laws, making sure that people aren’t discriminated against when obtaining or funding housing. Both banks and mortgage brokers are subject to HUD’s authority.

Federal Reserve

The Federal Reserve asks consumers to get them with any complaints against a financial institution. Including complaints regarding lending mortgages and practices. The Federal Reserve will investigate complaints and will operate with the mortgage company to fix your issue.

FBI

If you suspect a mortgage broker or lender is committing fraud, get the FBI. The FBI has a specific task orce designated to investigate fraud. The FBI takes mortgage fraud seriously, and will prosecute those who commit mortgage fraud.

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Renting and Tenant Rights

How to Get a Grant Deed

A grant deed is used to transport property from one owner to another, primarily within a arms-length sale. The deed includes certain guarantees –that the property has not been sold to anybody else and it is free from liens. To prepare a valid grant deed, each state will have its own needs, but many states, including California, will need a written document that defines the parties, supplies the property’s legal description, also includes language granting name. In order to produce the grant deed appropriate for recording, additional information is usually required by the recorder’s office where the property is situated.

A grant that is pre-printed deed form. A good source for these forms can be the site of a government recorder’s office where the property is situated, like the County of Ventura, Clerk and Recorder. The pre-printed form will include the proper legal terminology required in the jurisdiction where the property is situated and indicate what information has to be added. These forms can also be found by a neighborhood real-estate broker or legal stationary store.

Add the name and address to the grantee at the upper left-hand portion of the grant deed. This is done in order to make certain that the original grant deed is returned to the grantee after the deed is recorded and all future property tax statements are mailed to the grantee, the San Francisco County Office of this Assessor-Recorder advises.

Find the assessor’s parcel number for your house and insert it at the grant deed at the blank space after”APN.” You can find the APN from several resources. It can be discovered on a property tax bill or a previously recorded grant deed for the house. Some authorities property assessors make the information available through a site, like the San Francisco County Assessor’s site SFParcel.

Find the information provided from the local authorities assessor’s office to calculate the documentary transfer tax to your property and add the sum calculated at the grant deed where indicated. Unless a specific exemption applies, a tax is implemented that is based on the value of their house whenever there is a change in ownership. In California, the grant deed could be denied for recording if the tax isn’t paid at the time recording is requested. The way of calculating the taxation is available in the local authorities assessor and can often be found on the assessor’s site, like the dining table of documentary taxation information provided from the San Francisco County Assessor. Along with computing and paying the tax, the San Francisco County Assessor also requires you to submit a Transfer Tax Affidavit, which will be available from its workplace.

Add the name of the grantor–the individual selling the house –after the phrase:”FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, I (We)….” The grantee’s name is added after the phrase:”hereby remise, release and grant to…” The name of this county and city is inserted in the blank spaces that follow.

Add the property’s legal description at the region reserved over the signature line. The best source of information is the legal description in a prior grant deed for the house. In addition, it can be found on any name report obtained for the home as a portion of their sale. Double check the legal description. An inaccurate legal description will cause difficulty transferring the house later on.

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