Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Real Estate

NAR president: Realtors ready for TRID, but grace period welcome

Says challenges still ahead

The new TILA-RESPA Integrated Disclosure rule goes into effect on Oct. 3, and the National Association of Realtors thinks its members will be ready.

That said, they are extremely grateful that the Consumer Financial Protect Bureau is implementing an informal hold harmless grace period.

While the grace period offered by the CFPB is undefined, Congress will be voting on a bill next week to formalize the grace period through the end of 2015.

“Realtors across the country have worked hard to prepare for the TILA-RESPA Integrated Disclosure rule, which goes into effect tomorrow,” says NAR President Chris Polychron. “NAR has been in close contact with the CFPB throughout this process to advocate changes that would address Realtor concerns, such as moving implementation from Aug. 1 to Oct. 3 to accommodate the busy buying and selling season.

“NAR also applauds CFPB Director Richard Cordray for committing this week in writing and in congressional testimony to a safe-harbor period for good-faith actors in the early stages of implementation,” Polychron said.

For a look at how TRID may affect real estate transactions, click here.

“For all the good work that has been done, we know there will be challenges ahead, especially in the first few months,” Polychron concedes. “That means as these new rules take effect, the hard work to deliver timely and efficient closings continues; extra time for closings and open lines of communication will be critical. NAR will continue to communicate Realtors’s and their clients’ concerns to the CFPB and help ensure the new rules are carried out with as little disruption as possible to consumers and the industry.

“At the same time, Realtors will continue providing expert service to their clients and playing a critical role in helping consumers everywhere achieve their buying, selling and investing objectives,” Polychron says.

3d rendering of a row of luxury townhouses along a street

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