Here's an article from Housingwire giving an update on how the first month of the TRID implementation went. The CFPB says it was no problem. The secondary money market says 90% of the loans have technical and execution issues. Considering how the the CFPB has been penalizing lenders for technical ... » Learn More about TRID Violations Found in 90% of Recently Reviewed Mortgages per Moody’s
Dodd Frank financial regulations
Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It
By a vote of 255-174, the House approved the “Portfolio Lending and Mortgage Access Act,” which would broaden the definition of qualified mortgages – those that qualify for the safe harbor – to include all mortgages held on a lender's balance sheet. The new QM rule would recognize all residential ... » Learn More about Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It
What’s Happening With Real Estate Finance Legislation in Washington?
Hear the latest on what's happening in Washington DC, and how it will affect the real estate industry and consumers. As a California delegate, Ron Henderson will present an overview on what transpired at the National Association of Mortgage Professionals Legislative and Regulatory Conference. Hear ... » Learn More about What’s Happening With Real Estate Finance Legislation in Washington?
January 26 FHA Cost Drop, Tighter Appraisal Review Process
The FHA monthly mortgage insurance premium drops January 26 by .50%. This is to make it more competitive with Freddie Mac and Fannie Mae's 3% down programs. The FHA Up Front Mortgage Insurance Premium will still be 1.75%. The better quality borrowers have migrated to conventional financing because ... » Learn More about January 26 FHA Cost Drop, Tighter Appraisal Review Process
San Fernando Valley Real Estate Market at a Glance
The San Fernando Valley real estate market continues it's transition from a seller's market to one of neutrality. A "well priced" listing can still move fast. A poorly priced property can sit on the market, and take price reductions. When looking at the most recent real estate statistics, the ... » Learn More about San Fernando Valley Real Estate Market at a Glance