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
Bill May Give Some Temporary Relief From New TRID Disclosure
It’s well known that the majority of the real estate and finance industries are not fully prepared for the impact of the upcoming Truth in Lending/RESPA Integrated Disclosure (TRID). As a Delegate from California at the National Association of Mortgage Professionals Convention in April, one of ... » Learn More about Bill May Give Some Temporary Relief From New TRID Disclosure