140 days and counting until the Consumer Financial Protection Bureau's (CFPB) TILA/RESPA Integrated Mortgage Disclosure (TRID) rule goes into effect. If you haven't paid much attention, now is the time to start. Just this week, more lenders confirmed they will take control of delivering the Closing Disclosure to customers, and use technology tools that mean [...]
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CFPB Integrated Mortgage Disclosures – Responsibility for Compliance To: Settlement Agents In December, Bank of America announced that it would generate and deliver the buyer/borrower Closing Disclosure when the new documents take effect on August 1, 2015. This decision was made as a result of the increased responsibility the Consumer Financial Protection Bureau’s (CFPB) [...]
Based on taxes, doctors, recreation centers and retirement centers, a company called SmartAsset has ranked Granbury above Fredericksburg as the best place to retire in Texas. “Glad to see SmartAsset recognizes Granbury for the gem that we know it is,” said Mayor Nin Hulett. SmartAsset is a venture-backed financial technology company that uses data to [...]
Despite a weather-plagued slow start...The housing market is in for a solid year, propelled by job and income gains plus an increase in household formations and pent-up demand. Helping to fuel the housing recovery: The reemergence of first-time home buyers, who have largely been sidelined since the recession. The number of first-timers will edge [...]
Uncle Sam is greasing the skids for first-time home buyers this year. The Federal Housing Admin. will trim annual mortgage insurance premiums for FHA-backed loans by half a percentage point, to 0.85% from 1.35%. The reduction figures to save typical first-time buyers $900 in their annual mortgage payment. Existing homeowners who refinance an FHA mortgage [...]
t’s been five years since the financial crisis, and the housing economy continues to steadily improve, paving the way for an even better 2015, CoreLogic’s 2015 Housing Outlook said. Employment grew at an average of 2% on a year-over-year basis for the three months ending in Nov. 2014, the strongest rate since the three months ending in [...]
Correction: An earlier version of this post incorrectly stated that the minimum credit score floor was lowered to 620 on December 1. In fact, the 620 guideline was already in place although not widely used by lenders, FannieMae rep and warranty changes went into effect on December 1 in the hopes that lenders would begin to [...]
What’s more horrifying than losing thousands of dollars unexpectedly? Not much. Purchasing a piece of real estate, be it a family home or retail space, is one of the largest investments you will probably ever make. You think you’re prepared — you stayed within budget, had the property inspected and you took out homeowners’ or [...]
Eight years after heading into the tank... The housing market is finally nearing normal. Come 2015, sales of existing homes are likely to match or top the average for 1999-2002, before housing mania seized the U.S., driving prices to unsustainable peaks. A strong rental market already has the construction of multifamily dwellings back to historical [...]
The Mortgage Bankers Association (MBA) expects to see $1.19 trillion in mortgage originations during 2015, a 7 percent increase from 2014. While MBA anticipates purchase originations will increase 15 percent, it expects refinance originations to decrease 3 percent. MBA’s forecast predicts purchase originations will increase to $731 billion in 2015, up from $635 billion in [...]