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Mortgage Professor about Equal Cretit Opportunity Act: 
What Is a Mortgage "Overage?"
June 23, 2003 "I eavesdropped on my loan officer and heard him say that he was on his way to a ?nice overage?. What is an overage?" It is money extracted from your pocket by the loan officer. In the high-stakes poker game that is the home mortgage market, you ... more...

Other Questions Mortgage Brokers Ask
November 1, 2000 Why do I need a web site? A web site is the means by which you declare who you are and what you do.  By placing the UMB commitment on your site, you are announcing to the public that you are prepared ... more...

Equal Cretit Opportunity Act related definitions

Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more...

Debt To Income Ratio
Debt To Income Ratio The ratio, expressed as a percentage, which results when a borrower's monthly payment obligation on long-term debts is divided by his or her gross monthly income. Equal Credit Act Debt ... more...

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Get Free Equal Cretit Opportunity Act Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Understanding Your Rights Under The Equal Credit Opportunity Act
It wasnt all that long ago that lenders blatantly discriminated when it came to approving credit for women and minority groups. Women were actually asked personal and demeaning questions like, how many children do you plan to have in the future or are you on birth control?Despite the fact that they ... more...

All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA
Fact: Over 150 million Americans have credit report with the three major credit reporting agencies. Approximately 50 million of these credit reports contain errors, many of which are inaccurate. Do you know whats on your credit report?If youve ever applied for a charge account, a personal loan, ... more...

Second Mortgage a Good First Step
A second mortgage can be the first step to climbing out of debt, especially for homeowners who have bad credit. A second mortgage is a loan taken out in second position on a property that already has a mortgage. There are fixed-rate loans, adjustable-rate loans and home equity lines of credit (also ... more...

7 Consumer Credit Laws You Should Know if You are Trying to Repair Your Credit
There are seven consumer credit laws you should be aware when dealing with your credit.1. The Truth in Lending ActThe customer had to be told the true cost of borrowing, so they could figure out exactly what the charges would be. You must be informed, in writing of the finance charge and the APR ... more...

Insurance Credit Scoring: An Ethical Issue
The issue at hand is the use of a consumers credit score as an underwriting tool for auto insurance rates. What is a credit score or FICO score? A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their ... more...

Utah Mortgage Broker
As a Utah resident it should not shock anyone that I have need of a Utah mortgage broker. Much like being born, eating, and dying, sooner or later we all will need a mortgage broker to help us get a house of our own. Getting a mortgage is an intimidating process that will effect your financial ... more...

Accessibility Requirements for Fair Housing
PolicyFederal Fair Housing accessibility requirements for new multifamily buildings should be written in building code language certified as Fair Housing compliant by the Department of Housing and Urban Development (HUD). HUD should be vigilant in compliance education and assistance as is NAHB. Use ... more...

"How Much Interest is Your Home Equity Earning?"
How much interest are you earning on your home equity? If you answered nothing, zero, zilch, zip you are correct. What would you do if you could get triple compounding on your equity? Would you take action and build a fortune that would allow you to pay off the mortgage and create a retirement ... more...

Building A Medical Spa Inside Your Existing Medical Practice
The physicians conundrum: Everywhere, physicians are contemplating or engaged in expanding into the medical spa market. Seduced by the media buzz around this hot new phenomenon, many doctors see the medical spa as a means boosting their income and eliminating the growing grind and countless ... more...

Credit Scores and Loan Applications
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit ReportIt can make a difference of up to 18% in loan repayment costs. For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score, 760-850, will pay 5.59%, or $860 per month, while ... more...

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