Our Blog
New Foreclosure Alternative Program May Offer Relief to Homeowners
The Home Affordable Foreclosure Alternatives (HAFA) program is a part of the Home Affordable Modification Program (HAMP), and offers a streamlined process for short sales and deeds-in-lieu of foreclosure. HAFA will allow homeowners to discharge their first mortgage...
Massachusetts Privacy Law – 201 CMR 17 Compliance (WISP)
Massachusetts privacy law requires businesses to implement security controls to protect systems containing Massachusetts resident’s personal information from data loss. What is Mass 201 CMR 17? In an effort to protect Massachusetts residents from the rising incidence...
Mass. Smoke/Carbon Monoxide Detector Law Effective April 5, 2010
Law Requires 2 Types of Smoke Detector Technology The two most common methods of fire/smoke detection technology currently used is either ionization or photoelectric based. Ionization sensors feature a constant current flowing between two electrodes. When smoke...
New Oil Heating System Law Affects Homeowners
On July 1 2010 a new Massachusetts law goes into effect that will concern certain homeowners. The new law requires that all 1 to 4 family residential dwellings serviced by a home heating oil system meet new safety standards. Homeowners using home heating oil must...
FEMA Disaster Declarations May Delay Funding
Last night FEMA made Disaster Declarations for much of Mass, RI and NH (see counties affected below). Lenders are going to require the appraiser go back out and do a re-inspection prior to funding to show that the property is undamaged / unaffected by the disaster. Be...
New Lead Paint Regulations May Affect Realtors®
New lead paint regulations go into effect in Massachusetts on April 22, 2010. Although the new regulations do not immediately or directly impact Realtors® and real estate agents, contractors will now be required to be certified by the Environmental Protection Agency...
Summary of Recent RESPA and Regulation "Z" Reform Presentation
Key Features of RESPA Reform New style 3 page Good Faith Estimate (GFE): Must be provided to borrower within 3 days of receipt of a complete application. Must match HUD-1 at closing within certain tolerances. Except for "changed circumstances" GFE cannot change prior...
Go For Everything. How to Finish What You Start!
On February 23rd at 6:30pm, Jeff St. Laurent will be hosting one of his most impactful seminars to date. Most people never finish what they start… and what is worse than that, of the people who do “finish,” most never give everything they have and are left with an...
HUD Releases Additional Guidance on Final RESPA Rule
These most recent FAQs offer additional guidance on the following issues: A loan originator can require the use of a particular provider of flood certification and tax service as long as that provider is not affiliated with the lender; Pages cannot be added to the GFE...
Housing Market Index, What Does It Mean?
An index of over 300 home builders, which shows the demand for new homes. The index runs from 0-100, so a rating of 50 would mean that demand for new homes was average. Data used in the index is provided by the National Association of Home Builders (NAHB). The index...