Articles Tagged with ''TRID''

Mortgage defects fall for first time in a year as TRID issues subside

New ARMCO report shows regulatory/compliance defects falling in Q2

Earlier this year, a report from ACES Risk Management shows the rate of serious mortgage defects on the uptick from the moment TRID started. Now, a new report from ARMCO shows that as the mortgage industry becomes more accustomed to operating in the post-TRID world, serious mortgage defects are actually declining.


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What's next now that Republicans control the Presidency and Congress?

Are Dodd-Frank and the CFPB on the chopping block?
While much of the country’s attention is focused on the seemingly unexpected election of Donald Trump, it shouldn’t be lost that the Republican Party also maintained its control of the House of Representatives and the Senate in this election. Now one party will control the legislative and executive branches of the government for at least the next two years. So what does that mean for the financial services industry, given the seismic changes the industry has seen in the last eight years?
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As far as tech innovation goes, here’s where the industry’s headed

Short-term and long-term
Innovation is the new buzzword for the mortgage industry, replacing TRID, which instigated a less enthusiastic response. The Mortgage Bankers Association’s annual convention and expo in Boston late last month showed that the industry moved beyond the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule to its new focus, innovation. This is what it plans to do next.
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Bye-bye regulation, the mortgage industry found a new focus: technology innovation

The hot topic at MBA Annual 2016
There was a clear difference in the atmosphere at the Mortgage Bankers Association’s annual convention and expo in Boston this year. A quick look at this year's headlines compared to last year's headlines shows the dichotomy between the two. The industry was so stifled by TRID last year that the burden carried over into the mood of the conference. This year, however, produced a different, better story.
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Don't move on too quick, TRID isn't over yet

Not enough TRID at MBA Annual? Here’s what you need
Last year, TRID was everywhere. You couldn’t get away from the Consumer Financial Protection Bureau’s new Know Before You Owe rule. But while you likely have a better handle on TRID one year later, don’t forget that the news on TRID isn’t over. The Mortgage Bankers Association’s annual convention this year featured only one panel session on TRID, a significant change from all the hype surrounding it last year. Here's what you still need to know. But act fast, this webinar is today.
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Top industry voices submit final comments on looming TRID changes

Time to sit back and wait
The industry’s last chance to change the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule just closed. On Tuesday, the door shut on the ability for the industry to comment on the bureau’s proposed updated to the new rule. Now the industry can only sit back and wait.
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Monday Morning Cup of Coffee: Illinois looks to end ties with Wells Fargo; TRID anniversary

What's going on with Deutsche Bank?
One year ago today marked a pivotal change in the industry: the CFPB officially held lenders, vendors and everyone in the industry accountable for the Know Before You Owe rule. Meanwhile, trouble is far from over for Wells Fargo as the city of Chicago and the state of Illinois add their names to the list of places that are still looking for retribution.
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TRID one year later

Happy anniversary!
Oct. 3, 2015. A historic day for the mortgage industry. Also, one forever marked as the official implementation date for the Consumer Financial Protection Bureau's Know Before You Owe rule. Now a year officially passed since the implementation deadline, it’s easier to see exactly how the industry dealt with the massive changes.
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The new normal: Time to close settles at 46 days

Ellie Mae report suggests TRID issues are calming down
After rising, falling, and rising again in the wake of the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule, the time to close a mortgage loan appears to finally be settling into a new normal – about a month and a half.
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