According to Fitch Rating, investors may be a little too picky when it comes to denying loan purchases because of a TRID document not being prepared exactly per the new rules (TRIDSlips). The amount of data required to appear on each new disclosure, coupled with the requirements for how it should be reported, creates some major challenges for a lender.…
If you attended the recent Conference of Regional MBAs in Atlantic City, you heard Barry Habib, President of MBS Highway, talk about why he believes we may see another surge in refinances if/when the Fed raises short-term rates (Rates). Barry made a similar prediction last year of decreasing rates and was correct. We did see loan rates drop when the…
As we all well know, sometimes the headlines are written to grab our attention but the story reveals something a little different. Take the headline on this article appearing in last Tuesday’s MBA NEWSLINK; “Survey: Consumers Still Report Slower Closings, ‘Surprises’ Under TRID” (Survey). This headline would lead one to believe that closings are being delayed, and consumers are being…
It is rare these days to have one of the Federal Government’s Housing Agencies (HUD, VA and USDA) offer in-depth technical training geared towards underwriters and loan processors that will result in a better understanding of the rules and regulations in effect for the programs that they administer. One such opportunity is now available to anyone interested in USDA’s Single…
They may not be one of the 68 teams that made it to the big dance for March Madness, but like each team in the NCAA tournament, the FED says it “ain’t gonna be one and done”. They want to play on…(Fed Rates). In the December FOMC meeting, Janet Yellen, and the Fed, raised the short terms slightly. No real surprise…
I’m attending the 33rd Annual Regional Conference of Mortgage Bankers Associations at Harrah’s new convention center in Atlantic City. Nice place. The residential segment opened yesterday with Barry Habib, Chief Market Strategist of Residential Finance Corp., giving his forecast for interest rates, what will happen to affect them and where the lending opportunities may be in 2016. A great start…
