I wanted to share with you a story that will show you how a reverse mortgage has helped someone to the point that I’d like to label it "perfect" for her. The perfect reverse mortgage... I met "Ms. Smith" at an educational meeting in Boca Raton‚ her eldest son joined us to learn more and to see if a reverse mortgage was right for their specific situation. Her son and I spoke at length during and again after the meeting‚ and I spoke to Ms. Smith several times prior to meeting her to get her loan application
Premium Mortgage loan
fixture cannot easily be removed from the ground it is on unless damage is done to the object and the land. It is also propagated that a chattel is a fixture if it passes to the purchaser together with the land or it is part of the security in a mortgage agreement[1]. For one to say that an object on the land is part of the land i.e is a fixture with certainity‚ the object has to fulfil two important aspects. These are: a) Degree of annexation: this aspect considers the attachment level to the
Premium Real estate Property Mortgage loan
Case Summary for Capital Mortgage Insurance Corporation Overview The president and senior vice president of Capital Mortgage Insurance Corporation (CMI) hope to acquire Corporate Transfer Services (CTS). Currently‚ CMI is a business that sells mortgage insurance to banks and other mortgage lenders. However‚ executives at CMI desire to expand their business into the real estate relocation industry. Essentially‚ this industry works to assist employees who have been transferred to a new city as
Premium Insurance Real estate Vice President of the United States
Preventing Residential Mortgage Crises: An Islamic Finance Perspective By Waleed Khan a ‚ Dr. Fatimah B. M. Iliasu b & Sajjad Chowdhry c Abstract The 2008 Financial Crisis has compelled the international financial industry‚ politicians and homeowners to search their souls for the root causes of the problem. Many point to insufficient regulatory supervision‚ others to a culture addicted to credit and sheer greed. While these issues certainly exist‚ we believe that the residential mortgage and capital markets
Premium Subprime mortgage crisis Debt Mortgage
What role did the Accounting profession play in the recent sub prime mortgage crisis? What could they have done differently? What is a subprime loan? Subprime loans are unconventional loans designed to put as many people as possible in a home or to refinance an existing home regardless of the borrowers’ credit history. A subprime loan allows lenders to make loans whether or not the borrower has poor credit‚ no credit or even a very low Fair Isaac Corporation (FICO) score. Basically‚ subprime loans
Premium Mortgage Debt Subprime lending
People have learned to distrust mortgage brokers‚ because word of mouth has told them that many of these brokers are crooks who are only in it to line their own pockets. In some cases‚ this distrust is justified. However‚ as in all businesses‚ there are many good brokers mixed among the bad‚ and the only trick is in finding one that will give you the best service at the most reasonable cost. Honest mortgage brokers can show you the tricks of the mortgage business while getting you the best loan terms
Premium Real estate Debt Mortgage
The 10 biggest frauds in recent U.S. History Enron: The energy company’s bankruptcy in 2001 after allegations of massive accounting fraud wiped out $78 billion in stock market value and led to the collapse of Arthur Andersen and the passage of the Sarbanes-Oxley Act of 2002. A class action settlement of $7.185 billion was the largest of all time. Former President Jeff Skilling is serving a 24 year sentence. Bernard Madoff: New York money manager Bernard Madoff’s $65 billion Ponzi scheme‚ the
Premium Fraud Enron Class action
The Fraud Examination Unit at Computers Company submits this preliminary Report of Investigation to the Chief Executive Officer about a suspected corruption scheme in the company. In the broadest sense‚ fraud can encompass any crime for gain that uses deception as its principal modus operandi (Wells‚ 2011). Therefore‚ after learning of the suspected corruption scheme in the company‚ the objectives of the Fraud Examination Unit were to determine whether a possible corruption scheme existed; identify
Premium Fraud Management Deception
MORTGAGE BACKED BOND (MBB) WHAT IS IT MBBs are the third asset securitization vehicles. They differ from pass-thru and CMOs in 2 key dimensions: 1. Pass thru’ and CMOs remove mortgages from bank’s balance sheets as forms of offbalance sheet securitization. 1. MBBs normally remain on the balance sheet 2. Pass thru’ and CMOs have a direct link between the cash flows on the underlying mortgages and the cash flows on the bond vehicles 2. For MBBs‚ there is no direct link between the cash flow on
Premium Asset Credit rating Finance
Mortgage Crisis In 2007‚ the US economy entered a mortgage crisis that caused panic and caused other financial problems. The mortgage crisis was a result of too much borrowing and flawed financial modeling‚ largely based on the assumption that home prices only go up. The problem in this economy is that foreclosure rates were a few years ago at an all time high‚ where banks couldn’t afford to give out anymore loans and were increasing Americans mortgages. This caused a financial meltdown where not
Premium Subprime mortgage crisis Mortgage Mortgage loan