eClose, Non-QM, Broker Products; VA and FHA Investor Shifts

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Posted To: Pipeline Press

“The City of Baltimore, Maryland suffered a ransomware attack on May 7, 2019. Due to the attack, the City is currently unable to record documents until further notice. In the interim they are issuing ‘Lien Certificates’. Mr. Cooper is offering the following guidance related to loans closed within the city of Baltimore: ‘ Any loans with title reports that contain title exception language regarding lien certificates will be ineligible until further notice.’ If you have any questions, please contact your Regional Sales Team .” Scary stuff. What if this were to happen to an area that is growing by leaps and bounds? For example, two of the top three largest gaining MSAs from 2010 to 2018 were in the state of Texas, with both Dallas-Fort Worth-Arlington and Houston…(read more)

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