Comments on: Indecent Disclosure, Yield Spread Premium Class Action Lawsuits on the Rise http://thexbroker.com/2007/06/26/indecent-disclosure-yield-spread-premium-class-action-lawsuits-on-the-rise/ Radical Transparency for The Real Estate and Mortgage Industrys Thu, 20 Nov 2008 22:33:04 +0000 http://wordpress.org/?v=2.6.1 By: Gilda Nazario http://thexbroker.com/2007/06/26/indecent-disclosure-yield-spread-premium-class-action-lawsuits-on-the-rise/#comment-1437 Gilda Nazario Fri, 16 Nov 2007 03:28:46 +0000 http://xbroker.realestatetomato.net/2007/06/26/indecent-disclosure-yield-spread-premium-class-action-lawsuits-on-the-rise/#comment-1437 My husband and I are victims of predatory lending practices. The broker swithced the terms of our loan from a fixed rate to an ARM, 80/20 loan. We found this out at closing! No disclosures made tous re: ARM; no right of rescission on equity line. Question: On a purchase, if there is a 1st mortgage and a 2nd mortgage (equity line), must the lender provide a right of rescission on the equity line? Also, we have found out the amount financed was understated by $109,000.; payments listed in Truth In Lending disclosure were understated; apr understated by 1.76% and of course YSP not properly disclosed. We refinanced a year later to avoid horrendous loan. We have a right to rescind correct? Broker investigated by the State and found to have violated Florida Statutes (switched terms and rate without notifying us and no broker contract). The appraiser is being investigated by the State re: inflate appraisal by $25,000. and sq. ft. by 228 sq. ft. Lender made numerous TILA violations. Any information you can provide would be helpful. Thank you! My husband and I are victims of predatory lending practices. The broker swithced the terms of our loan from a fixed rate to an ARM, 80/20 loan. We found this out at closing! No disclosures made tous re: ARM; no right of rescission on equity line. Question: On a purchase, if there is a 1st mortgage and a 2nd mortgage (equity line), must the lender provide a right of rescission on the equity line?

Also, we have found out the amount financed was understated by $109,000.; payments listed in Truth In Lending disclosure were understated; apr understated by 1.76% and of course YSP not properly disclosed. We refinanced a year later to avoid horrendous loan. We have a right to rescind correct? Broker investigated by the State and found to have violated Florida Statutes (switched terms and rate without notifying us and no broker contract). The appraiser is being investigated by the State re: inflate appraisal by $25,000. and sq. ft. by 228 sq. ft. Lender made numerous TILA violations.

Any information you can provide would be helpful. Thank you!

]]> By: Mr. Hall http://thexbroker.com/2007/06/26/indecent-disclosure-yield-spread-premium-class-action-lawsuits-on-the-rise/#comment-1434 Mr. Hall Mon, 10 Sep 2007 02:21:02 +0000 http://xbroker.realestatetomato.net/2007/06/26/indecent-disclosure-yield-spread-premium-class-action-lawsuits-on-the-rise/#comment-1434 Did you launch your business for one flat fee for mortgage loans I would like to know thank you. Did you launch your business for one flat fee for mortgage loans I would like to know thank you.

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