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#mortgage — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #mortgage, aggregated by home.social.

  1. I was unaware of this and when asking my new bank to verify destruction of my biometrics under the APP1988, they are claiming retention under the AML for 7 years after the closure of the morgage.

    Grotesque nany state we live in. So gross. Ian Malcolm from Jurassic Park comes to mind - just because they can collect this stuff, doesn't mean they should. especially when it could or will eventually leak. I cant change my face

    2/2

  2. Fun trap for people apply/refinancing their mortgage. The NextGen biometric that banks are requesting to for verification is being claimed as an exception to the Privacy Act 1988.

    It doesn't have to be de identified or destroyed after verification for Tranche1 entities under the AntiMoney Laundering / CTF act.

    1/2

  3. Housing affordability hits lowest rate on record despite recent falls in property prices

    Housing affordability has fallen to its lowest rate on record, with households earning a typical income only able…
    #NewsBeep #News #Economy #Affordability #AU #Australia #Business #houseprices #housing #housingaffordability #interestrates #mortgage #Property #propertyprices #RBA #RealEstate #realestate.com.au #ReserveBankofAustralia
    newsbeep.com/au/880062/

  4. Ok, this is interesting and not all that surprising - BUT - read the frickin fine print CAREFULLY!!!!!!

    Home buyers can use bitcoin holdings as collateral to cover the down payment when purchasing a home - for "eligible" Better Mortgage customers and Coinbase.

    It requires crypto collateral equivalent to at least 250% of the loan dedicated to the down payment - aka buyer who has 250,000 dollars in bitcoin can, get up to 100,000 dollars for their down payment.

    No need to sell the bitcoins. The bitcoins are transferred to a Better custody account on Coinbase Prime. They remain there until the loan is repaid or refinanced. Once the credit is repaid, the bitcoins are returned to the owner according to the contract conditions. cointribune.com/en/millions-of #Bitcoin #Blockchain #Mortgage #DownPayment #Crypto #CryptoCurrencies #BetterMortgage #Coinbase #RealEstate #HomeBuyers

  5. In the Oct 11 message to Smith, Evans, the #FannieMae #mortgage executive, also added others to the email chain because they “were involved with this week’s efforts to compile this information” & he wanted to “make sure you do not exacerbate this issue.”

    Danielle McCoy, Fannie Mae’s general counsel, weighed in, adding that the information Smith provided to #FreddieMac should “never be shared” & “could put the company at risk.”

    #law #scammers #housing #affordability #BillPulte #Trump

  6. …Soon, a team at #FannieMae was overseeing an effort to pull together a tranche of #mortgage data, according to emails reviewed by the AP. Smith played a central role and shared the #confidential lender-level pricing information with #FreddieMac, which set off alarms at both companies, according to the emails.

    #law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #BillPulte #Trump

  7. #BillPulte ’s power over the #mortgage lending industry is unusual. Not long after his #Senate confirmation, he appointed himself chairman of both #FannieMae & #FreddieMac, which hold trillions of dollars in assets. The companies serve as a crucial backstop for the home lending industry by buying up mortgages from individual lenders, which are packaged together & sold to investors.

    #law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #Trump

  8. …The Wall Street Journal reported this week that some #FannieMae #ethics & #oversight officials who were fired last month had been investigating whether #BillPulte improperly obtained #mortgage information for #LetitiaJames, who was charged last month with bank fraud after Pulte sent a criminal referral to the #DOJ. She said the charges, which she denies, are politically motivated.

    #law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #Trump

  9. In June, #BillPulte ordered #FannieMae & #FreddieMac to prepare a proposal for the firms to accept #cryptocurrency, another industry #Trump has boosted, as part of the criteria for buying mortgages from #banks. Last week, he persuaded Trump about the allure of a 50-year #mortgage as a way to increase home buying & building—a proposal that was widely criticized because it would drastically increase the overall price of a #loan.

    #law #scammers #housing #HousingCrisis #affordability #CostOfLiving

  10. “Lauren, the information that was provided to #FreddieMac in this email is a problem,” Malloy Evans, snr VP of #FannieMae’s single-family #mortgage division, wrote in an Oct 11 email. “That is confidential, competitive information.”

    He also copied Fannie Mae’s CEO, Priscilla Almodovar, on the email, which bore the subject line: “As Per Director Pulte’s Ask.” Evans asked Fannie Mae’s top attorney “to weigh in on what, if any, steps we need to take legally to protect ourselves now.”

    #law #Trump

  11. Imagine a Chinese real estate company running a Ponzi scheme & going $300 billion in debt to its lenders.

    Now imagine them defaulting on their #loans & the banks become insolvent.

    Then imagine citizens, seeing the banks drastically weakened, pull their money out of the banks & refuse to make their #mortgage payments.

    This is a 1hr 20min breakdown of #China's crisis.

    "China's Worst Nightmare Comes True, Protests Everywhere, Mortgage Crisis"
    youtube.com/watch?v=uAuaXGm-Wb

    #evergrande