Articles Tagged with ''TRID''

CFPB corrects error in TRID rule

Falls victim to the dreaded 'typographical' error
It’s been four months since the implementation of the CFPB’s TILA-RESPA Integrated Disclosures rule in October shook up the housing industry, and many in the industry are still getting used to the new normal. But, starting Wednesday, there’s a small portion of the TRID rule that will be changing, thanks to a “typographical error” in the supplementary information provided by the CFPB.
Read More

Marketplace Home Mortgage offers on-time closing guarantee

Customer gets a one-time $1,500 mortgage payment
Marketplace Home Mortgage announced a new on time closing guarantee, adding an extra buffer to solidify that a borrower’s mortgage will close on time. This comes at a time that lenders are still in the beginning months of the TILA-RESPA Integrated Disclose rule.
Read More

Existing-home sales surge in TRID aftermath

NAR President: Near-term challenges still prevalent
The immediate impact of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October is quickly coming to light as existing-home sales bounce back after November’s steep drop. But before celebrating, NAR President Tom Salomone cautioned that data is still showing longer closing timeframes, which is a reminder that the near-term challenges they anticipated are still prevalent.
Read More

JPMorgan barely phased by TRID, financially

CFO weighs in on TRID during earnings call
JPMorgan Chase weighed in on the implications of TRID during its fourth-quarter conference call, shedding light on where big banks stand on the issue. Marianne Lake, chief financial officer of JPMorgan Chase, said that while TRID did cause some delays, it did not impact the bottom line very much.
Read More

Thanks to TRID, California home sales exploded in December

Delays led to highest monthly sales increase in five years
After November 2015 turned out to be California’s worst home sales performance for the month since 2007, several observers were quick to point to the implementation of TRID as the cause. But November 2015 is looking like a mere speedbump for California. That's because December proved all that wrong. Here are the numbers.
Read More

Monday Morning Cup of Coffee: Welcome to 2016

Let's take a look back and a look ahead
Well, since you’re reading this, it appears that we all survived another New Year’s Eve. And whether you spent it crammed into Times Square like a sardine, hanging from the rafters at a secret underground rave, or sitting at home on your couch and consequently falling asleep before the ball dropped, it’s now time to get geared up for 2016. So here's a look back at how 2015 ended and what 2016 will hold, all in your Monday Morning Cup of Coffee.
Read More