Kevin Wall, president of First American Title Insurance Company’s Mortgage Solutions group, explained that in the case of recording fees, for example, the actual fee is something that is often unknowable at the time of disclosure under TRID. In a purchase transaction, recording fees are almost always calculated on a per-page basis and one of the documents to be recorded is the deed. But under the disclosure timing mandated by TRID, the disclosure may often take place before the deed is even prepared.
In the four years since its creation, the CFPB has become a law unto itself, full of conflicting agendas and unaccountable to the Congress that created it. Nowhere is this more obvious than in its massive, intrusive data collection program.
NTC has created an executive team which has nearly 300 years of combined experience and deep expertise in this industry. Collectively, this knowledge gives us the edge to stay ahead of the game in this ever-changing world.
But investors aren’t the only ones interested in auctions these days. In survey results from last year, Auction.com found a startling 30% to 40% of its registrants were owner-occupants — people who wanted to buy houses to live in them.
If consumers are confused by the difference between their interest rate and an APR — which is what the CFPB found in their surveys — it’s a safe bet that these same consumers have absolutely no idea what a guarantee fee is.
The only downside to a program like this is the difficulty in choosing winners. The field grows more competitive every year, with more nominations from a much broader field. This is a cause for celebration in and of itself, but one that presents a real challenge for our editorial staff. Our solution was to increase the number of winners from 30 to 40; we simply had too many incredible candidates to do less.
Investors today crave certainty, the kind that results from lots and lots of data points. To provide that degree of assurance, field service providers have taken data collection to a whole new level. Just in the last 12 months, the explosion of available real-time data is driving a new model of field servicing that would have been unrecognizable in the past.
The biggest challenge in field services is the ever-changing regulatory environment and scrutiny the mortgage servicing industry is under, according to this Q&A with Alan Jaffa, CEO of Safeguard Properties. But that's just the beginning.
Mere stats don't tell the real story of these outstanding leaders. They represent the whole spectrum of the housing economy, from real estate agents to originators to nonprofits. They lead companies, mentor others and give back to their communities. Read on to find out how each one is inspiring.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More