Items Tagged with 'Loan Estimate Form'

ARTICLES

  • Better Mortgage offering $1,000 guarantee that it can beat other lenders’ pricing

    Telling borrowers that it will beat any lender’s loan pricing or give you $1,000
    Better Mortgage, an online mortgage lender, is now offering borrowers a guarantee that its mortgage is cheaper than any other lenders’ options, and the lender is putting its money where its mouth is. Better Mortgage now guarantees that it will beat any competitor’s loan estimate by $1,000. If not, Better will give the borrower $1,000.
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  • What's your business intelligence IQ?

    Operational process improvements should be a focus right now

    It's apparent that you’ll need clear processes and guidelines in place for your workforce to maintain high levels of service while working within strict tolerances that could result in game-changing fines for your business.


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  • The TILA-RESPA Combined Disclosure connection

    Tim Anderson of DocMagic weighs in with Closing Call guest post

    The primary issue is not only delivering the closing documents to the consumer three days ahead of closing (consummation), but now, with the delivery deadlines and tolerance requirements, the lender is on the hook to ensure even greater accuracy of the GFE/TIL at time of application.  


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  • How to avoid feeling violated by the CFPB

    Recapping TILA-RESPA tolerances — 50 weeks out
    Previously averaging around $5,000 in total for RESPA violations, TILA-RESPA fines will be even higher because these penalties are assessed per day rather than per infraction, and the violation doesn’t need to be “knowing” or “reckless” in order to merit a penalty.
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  • Complying with TILA-RESPA tolerances, Part 2

    Zero tolerance charges, and refunds in 60 days

    The stakes are raised even higher because these penalties are assessed per day rather than per infraction, and the violation doesn’t need to be “knowing” or “reckless” in order to merit a penalty.


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  • Implementation, training and tolerances under the new rule

    Recapping a week of TILA-RESPA overload

    We rounded out section 16 of the TILA-RESPA Integrated disclosure rule regarding implementation by discussing the training component your organization will face. In the summary published by the CFPB, I think it’s one of the shortest sections – but we as an industry know better than to just think about it as two sentences.  


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  • Complying with TILA-RESPA tolerances, Part 1

    Breaking down the remainder of the Loan Estimate limits
    In calculating the aggregate amount of estimated charges for purposes of conducting the good faith analysis, the aggregate amount of estimated charges must reflect charges for services that are actually performed.
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