Articles Tagged with ''TRID''

House members try end run for TRID grace period bill

Tying it to appropriations bill to avoid veto
The Homebuyers Assistance Act is languishing in Congress, waiting to go to the Senate for consideration, but still under a veto threat from the president. Will a new plan by some in the House get it approved by the end of the year?
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CFPB Director: Panic over TRID looks just like Y2K

Cordray says 'anxieties' over disclosure rules appear to be unfounded
Depending on what you read and hear and who you believe, the implementation of the Consumer Financial Protection Bureau’s TRID rule in October was either no big deal or a really big deal. Count the CFPB’s director, Richard Cordray, as one of those who thought the implementation of TRID was no big deal.
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Genworth survey: Compliance with TRID still weighs heavily on housing industry

Technology issues also rate highly for TRID implementation concerns
As the two-month anniversary of the implementation of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule approaches, concerns over complying with the TRID rules are still weighing heavily on mortgage industry professionals, a new survey showed.
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From HW Magazine

2015 Trailblazers: Black Knight Financial Services

Integrating functional solutions for lenders and servicers
To support lenders and their network of settlement agents with their efforts at TRID compliance, Black Knight’s Closing Insight solution offers online integrations with major title and settlement platforms to facilitate lenders’ efforts to generate the new closing disclosure forms and enable lenders and settlement agents to reconcile fees within mandated timelines.
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MBA: New home purchases drop in October

TRID partially to blame for decline
Turns out the impact of TRID runs deeper than just a volatile month for mortgage applications. A new report from the Mortgage Bankers Association shows that mortgage applications for new home purchases fell by 8% relative to the previous month, partially due to TRID going into effect during the month.
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OCC to lenders: TRID compliance exams coming

Provides guidance on what examiners will be looking for
In addition to having the Consumer Financial Protection Bureau monitoring lenders’ compliance with its new TILA-RESPA Integrated Disclosures rule, the Office of the Comptroller of the Currency told lenders Friday that it will soon be starting its initial examinations of compliance with the TRID rules.
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Citi puts power of digital mortgages to the test

Pulls back from retail operations in the northeast
Citi will pull out of its retail operations in the Massachusetts market early next year. The bank was careful to say it wasn’t abandoning mortgage lending in the Bay State, but the decision moves a lot of the lending pressure to the strength of its digital mortgage platform. And not everyone thinks digital is the best option.
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