Articles Tagged with ''TRID''

NAR: Proposed TRID changes a "significant victory"

Answers to the Closing Disclosure form are here
The National Association of Realtors secured a victory in the changes announced Friday to the much-anticipated Consumer Financial Protection Bureau Know Before You Owe rule. The bureau gave much more concrete explanations for one of the biggest problem area — the closing disclosure.
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CFPB will update Know Before You Owe rule

Here's everything in the works right now
Staying true to its announcement three months ago, the Consumer Financial Protection Bureau released a set of proposed updates to its Know Before You Owe mortgage disclosure rule after industry calls asked for greater clarity and certainty on the rule. However, the changes, while welcomed, don't address everything the industry asked for.
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Answers you need on how the CFPB enforces TRID

TRID is about to change, did you conquer the first round?
Hurry! The webinar takes place this Wednesday. TRID isn’t the first regulation to take the industry by storm. The industry proved it can adapt with the qualified mortgage rule, and it can adapt to this. As the industry awaits the CFPB's changes to TRID, there are still billions of dollars on the line, and HousingWire got two experts for an HW Q&A webinar to make sure you don’t run afoul of regulations in the meantime.
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National Association of Realtors pushes CFPB for TRID changes

Proposes three changes to 'Know Before You Owe' rules
The Consumer Financial Protection Bureau notified the housing industry earlier this year that it planned to make some changes to the much-discussed TRID rule. In a new letter sent to the CFPB, the National Association of Realtors identifies three issues its members have seen with TRID and suggests fixes to those issues that could be included in the coming rule adjustments.
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Mortgage banker profit starts to recover post-TRID

Profits nearly double from fourth quarter
The storm caused by TRID in October is subsiding, with profit roughly doubling at the start of this year compared to the end of last year. However, profits still have a ways to go to get back to the level witnessed this time a year ago.
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The CFPB needs to fix this title insurance issue with TRID

74 members of Congress agree with ALTA
The Consumer Financial Protection Bureau shocked the industry when it announced it would take another look at the Know Before You Owe rule. And now with the bureau accepting comments and feedback on it, the American Land Title Association is quick to bring up a glitch it sees in title disclosures.
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How burdensome regulations now mean survival of the fittest

The mortgage industry needs more than compliance capabilities
Even today, the consequences of the mortgage crisis of 2008 resonate throughout the mortgage industry. However, the biggest impact from the meltdown wasn't sweeping regulation. Most will agree that there will be more “TRIDs” or “ATRs.” Instead, it's this key factor for businesses that is important.
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