Here’s how TRID is changing the mortgage industry

Here’s how TRID is changing the mortgage industry

Up and down the pipeline things are changing

Monday Morning Cup of Coffee: Is Fed, housing policy at a crossroads?

Plus why private investors don’t want to buy mortgages, TRID and more

[Chart] FHA mortgage insurance boom in the works?

MBA notes impact of cutting MIPs

Items Tagged with 'CFPB'


CFPB doubles down against marketing services agreements

Underscores that MSAs could constitute mortgage kickbacks
The Consumer Financial Protection Bureau issued a bulletin that basically doubles down on a warning they put out in July about marketing services agreements. It's the stick-and-stick approach going forward, it seems. Will it work? Is it fair?
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Fannie Mae, Freddie Mac just joined CFPB in extending TRID grace period

End date is also undefined
While the House of Representatives is due to vote any day now on formalizing a hold harmless grace period for the enforcement of the CFPB’s new TILA-RESPA Integrated Disclosure rules, Fannie Mae and Freddie Mac are extending an olive branch to the industry, by establishing their own grace period for TRID enforcement – albeit without a designated end date.
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White House absolutely wrong to threaten veto of TRID bill

A weakened administration looks to flex itself for no good reason
The White House is threatening to veto a wholly bipartisan House measure that would simply create a formal “hold-harmless” grace period for lenders and others in the industry operating under the new and incredibly complex TILA-RESPA Integrated Disclosure rule. Because reasons or something.
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CFPB sets its crosshairs on lending arbitration clauses

Too limiting for trial lawyers who want class action lawsuits
The Consumer Financial Protection Bureau is going after standard arbitration clauses, an avenue with a nine-decade pedigree designed to allow consumers and businesses a far less expensive option. This could affect most consumer lending, including expanding the existing limits in mortgage lending.
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House to vote on TRID grace period Wednesday

Would formally extend it until Feb. 1, 2016
Congressional sources tell HousingWire that the House will consider H.R. 3192, the Homebuyers Assistance Act, sponsored by Rep. French Hill, R-Ark., Wednesday afternoon. The industry says it's badly needed. Will it pass and will it be enough?
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California woman preyed on distressed homeowners, defied CFPB

Gets 70 months in prison
Najia Jalan received a sentence of 70 months in federal prison for her role in a scheme that involved Jalan falsely presenting herself as a member of the Department of the Treasury. And it doesn't end there. Jalan also pretended she was an attorney and defied a restraining order placed on her business by the CFPB.
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TRID pushes industry into digital mortgages

eMortgages are the obvious choice
The migration to a fully digital mortgage workflow has long been the goal of forward thinking mortgage lenders. This process would absolutely return a better experience to the consumer, which is likely the main reason the government is making digital the obvious choice through TRID.
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