Atlanta Home Loan - Case Study Essay

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The Home Owners Loan Corporation was established in 1933 by Franklin D. Roosevelt to protect homeowners from foreclosure. Its purpose was to increase housing investments after the Great Depression when the values of homes were halved and the efforts of Herbert Hoover failed. The Home Owners Loan Corporation was able to refinance mortgages with loans from private lenders with federal backing. This federal backing gave private lenders the confidence of security. In order to determine who would get loans the Home Owner Loan Corporation developed the neighborhood rating system which would categorize and discriminate the value of neighborhoods based on race, ethnicity, age, and religion. There were four classes used to determine whether a neighborhood was a good, fair, risky, or bad investment. The colors were respectively green, blue, yellow, and red. To be considered a good investment, homeowners had to be white, Christian, and live in new housing. A fair investment consisted of the same type of people but in older housing. A risky investment would consist of older housing and homeowners who were black, Jews, or foreigners. A bad investment was considered

As the saying goes, history repeats itself. The Great Depression is a time in American history that will always be remembered as a time of hardship in Americans’ lives. The goal: to never have such great oppression exist in the United States again. With the way the economy is headed today, many people are skeptical as to whether history will really repeat itself and create a new Depression. One of the biggest problems in the country today is the foreclosure crisis. Many Americans are living outside of their means or have lost their jobs and are unable to make their mortgage payments. When people can’t make their mortgage payments, they will lose their home and their family will be out on the streets. There are definite changes that need to

Court system, shows that they do not plan to change these behaviors, because they are using the Court to unknowingly aid them in continuing to break the law.

This is not a typical foreclosure case, but not a typical one . A pending foreclosure sale was actually canceled by written notice to the homeowners. Even had the sale not been canceled, it would have been voidable by various violations of California law which protect homeowners from wrongful foreclosure.

The foreclosure crisis is a problem disguised as many smaller problems: political, social, and economical issues to name a few. Just like there are several conditions that need to be present in order for a hurricane to form, several things need to come into play in order for foreclosures to persist. The economy’s generous desire to supply every family a home through zero down payment mortgages, the aspiration of a social classes’ need for status as being homeowners, and a city’s political structure’s greed for their cities to grow; are all in good intentions. But to sustain people in a city with a home and a healthy loan will require us to break down our old ways and construct a better method that will still allow families to own their own

In 2006, plaintiffs obtained a $1.3 million loan from Countrywide Home Loans, Inc. secured by residential real property used by plaintiffs as their residence.

FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, a division of the U.S. Department of Housing and Urban Development.

FNMA’s My Community Mortgage Program was designed for first time home buyers in who only have three percent of the sale price for a down payment, which can be gifted and you should have a minimum FICO score of at least 660. Lower FICO scores may be allowable, but you’ll need to discuss lower scores with your lender and any additional lender overlays that might be included.

There could be many reasons why the perpetrator had an opportunity to hide the fraud. It is clear that the internal control system is weak at Larson's Cement. In order for them to properly protect their assets it is important that the signing of checks and the management of bank accounts not be performed by the same individual. While Betty Landrone is the treasurer and the person keeping the checkbook, she shouldn’t supervise and handles the credit approvals, bill payments and collections. Having all these responsibilities assigned to Betty would give her an opportunity to create a dummy vendor. There is a conflict of responsibilities under this scenario and should be separated. Separating the duties among different people will minimize the

The property is subject to the terms, restrictions and conditions within the Repayment Mortgage, the Repayment Mortgage Deed Restrictions, and the Affordable Housing Agreement that prohibit it sell at a fair market price for a period of twenty years and all proceeds received during the twenty years that exceeds the restricted amount shall be paid to the Department of Community Affairs.

Mastered Mortgage Solutions LLC is an Illinois based limited liability partnership that specializes in consumer mortgage lending operations with a primary focus on being a full service mortgage lending and real estate finance training and education, quality review and risk management company that is geared to equip Mortgage Bankers, Mortgage Brokers, Mortgage Investors, Credit Unions and Community Banks in traversing the new regulatory and compliance landscape that currently exists in the mortgage banking industry. In today’s post economic crash lending environment mortgage originators are under tremendous pressure to evaluate current business practices and adopt measures that will align business practices with mandated regulatory and compliance requirements. Mastered Mortgage Solutions LLC makes available a variety custom tailored education, training, quality review and risk management packages for mortgage lenders to take advantage of to insure that all areas of lending operations meet current regulatory and compliance standards. Mastered Mortgage Solutions LLC will leverage knowledge and skill to achieve optimum outcomes by working seamlessly with our clients. In addition, our services support business process improvement to help our clients stay competitive and compliant in the current environment of government lending

The Home Depot Inc. was founded in 1978 and is the world’s largest home improvement retailer and the second largest retailer in the United States. The sales for the fiscal year 2000 were $45.7 billion, compared to $38.4 billion in fiscal 1999. As of January 2001, the company was operating 1,134 retail stores in forty-seven states, six Canadian provinces, Puerto Rico, Chile and Argentina.

Action control is more specific than result control. It focuses on the process of the whole thing while result control is focuses on the result. To use action control, it is difficult for managers to distinguish good or bad behaviors, because the processes and jobs are so varied. Action control also may limit employees’ creativity

Controls are measuring sticks to see if the desired goals are being met. Successful managers create parameters for their employees and implement controls within a criteria to confirm if the job is being done to standard. Case in point, I give quarterly performance counseling’s to each subordinate in my department on performance, being efficient at the job and using problem solving techniques. Controls to an extent border along the lines of micromanaging, but it can also be used to emphasize how well the subordinate is doing too. All quarterly counseling’s are not corrective in nature, but it is a great assessment tool for exceptional job performance as well. The usage of controls is part of my responsibility as a supervisor to ensure the goals are being achieved to standard.