Items Tagged with 'Annual percentage rate'

ARTICLES

  • In This Corner: QuestSoft President and Founder Leonard Ryan

    Leonard Ryan is founder and president of Laguna Hills, Calif.-based QuestSoft Corp., a provider of automated compliance review software to the mortgage industry. Ryan oversees day-to-day efforts for the company including, but not limited to, business and software development, strategic partnerships, sales and pricing. For this episode of In This Corner, Leonard discusses the major obstacles of Real Estate Settlement Procedures Act (RESPA) and how lenders can cut costs with automation.
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  • Fed Proposes Fee Restrictions for Brokers

    The Federal Reserve Board, in response to consumer testing results, proposed significant changes to Regulation Z -- Truth in Lending Act (TILA) -- in an effort to improve disclosures and prevent "unfair practices" in mortgage broker compensation. The Fed's proposal would prohibit payments to a mortgage broker or loan officer that are based on the interest rate or other terms, and would prohibit a mortgage broker or loan officer from "steering" consumers into transactions that are "not in their interest" in order to increase the compensation paid to brokers and officers.
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  • Revised Early Cost Disclosures Finalized by Fed

    The Federal Reserve approved final revisions to the Truth in Lending Act late last week. The finalized requirements made by the Fed for mortgage loans will provide early cost disclosures to borrowers under the Mortgage Disclosure Improvement Act (MDIA), enacted in mid-2008.
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  • Tech Roundup: Mortech Sees Dividends from LendingTree Partnership

    Mortech gets more: A partnership between LendingTree and Mortech, Inc. is clearly paying dividends for the Nebraska-based tech provider, despite the industry downturn. The company said Monday that it has seen its LendingTree customer base grow by nearly 450 percent in one year; a partnership between the two firms was first announced in October 2007.
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