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court deems its mortgage market shorting strategy as "material information" that investors should have been provided when Goldman sold ...

Press Release First American Mortgage Solutions Invests In Helping Lenders And Servicers Achieve Sustainable ...

SANTA ANA, Calif., Nov. 1, 2016 – First American Mortgage Solutions , LLC , a subsidiary of First American Financial Corporation (NYSE: FAF ) and a leading provider of comprehensive solutions for lenders and servicers that cover the entire loan spectrum, today shared highlights from the company’s evolution over the last 12 months as it focuses on assisting clients in building and executing sustainable growth business models with a focus on quality.

“As the mortgage finance industry adapts to the dynamic regulatory environment and technological disruption in today’s marketplace, we’re committed to investing and innovating in order to drive operational efficiency and maintain regulatory compliance, all while delivering an exceptional customer experience,” said Kevin Wall, president of First American Mortgage Solutions. “Through a series of strategic investments and by leveraging deep assets across First American, we’ve expanded our capabilities and reach across the mortgage loan spectrum, reaffirming our unwavering commitment to the Pursuit of Certainty in Lending and to supporting lenders and servicers.

ACI Rolls Out API For FHA's EAD Portal

ACI , a First American company, reports that it has developed a custom integration with the Federal Housing Administration’s (FHA) Electronic Appraisal Delivery (EAD) portal, which all FHA appraisers are required to start using on June 27.

ACI claims it is among the first appraisal technology providers to offer full integration with the EAD portal, through which mortgagees, third-party service providers and other authorized users can electronically deliver FHA origination appraisal reports prior to endorsement.

Appraisal reports uploaded to the portal must comply with the FHA’s Appraisal Report and Data Delivery Guide. The portal’s software checks each submission against FHA requirements and returns a detailed status message indicating the submission’s success or failure.

Certain critical data errors, such as those that cause data conflicts between the EAD portal and FHA Connection, must be remedied before the submission can be successfully transmitted. Other lesser discrepancies may be accepted but will be flagged by the portal for lender review.

What happens to the balance in debt forgiveness?

The situation is my mother-in-law has a house that she owns. She took out a loan and a mortgage on the house for repairs. Those were consolidated by Citi Financial.

She could very well end up with a 1099-C taxable income amount for the tax year to be reported on her 1040 income tax return for the tax year.