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TRID Delayed Till October 1
The CFPB just released a statement delaying the full implementation of the complex TILA-RESPA Integrated Disclosure. WASHINGTON, D.C. — Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure ... » Learn More about TRID Delayed Till October 1
Ouch ! Rates Have Jumped !
Interest rates have broken out of technical areas today. This chart of the 10 year note correlates with the direction of mortgage rates. Over the past 3 days we've seen a 1/4% increase in rates, and over the 2 months it's up 3/4%. This will hurt potential buyers to qualify for loans, but also drive ... » Learn More about Ouch ! Rates Have Jumped !
CFPB will grant grace period on TRID enforcement
The Consumer Financial Protection Bureau will not delay implementing the complex TILA-RESPA Integrated Disclosure requirements that go into effect Aug.1, but there will be a good-faith enforcement grace period that both the mortgage industry and a bipartisan coalition in Congress have asked ... » Learn More about CFPB will grant grace period on TRID enforcement
2nd Lein Stripping in Chapter 7 Bankruptcies Rejected by the Supreme Court
A Chapter 7 bankruptcy proceeding may not void a junior mortgage lien when the debt owed on a senior mortgage lien exceeds the current value of the collateral if the creditor’s claim is both secured by a lien and allowed under the bankruptcy code. This technique was disallowed by the Supreme Court ... » Learn More about 2nd Lein Stripping in Chapter 7 Bankruptcies Rejected by the Supreme Court