With the TRID rules effective date just around the corner, the industry is pushing Congress hard for legislation to impose an enforcement moratorium. Lenders are concerned that honest mistakes/errors may take place as the result of the complexity of the new rules, the massive programming changes required for compliance, the exactness of the new forms and remaining uncertainty over implementation…
FHA requires lenders to sign an annual and individual loan certification that basically states the lender originates loans for FHA insurance in compliance with all related FHA rules and requirements. If the lender is found to have violated these rules, the lender may be fined and prohibited from further participation in the FHA lending program. In some cases, the lender…
Recently, lenders have had some good news relative to some system upgrades which will enhance their reliance on tracking reports that are essential for the overall monitoring of loan performance. In August, Fannie Mae announced that their Reps and Warrants Tracking Reports have been substantially upgraded to assist lenders in the identification of loans that have achieved sunset relief of…
As it should be with everything we do, it is important to start at the beginning. Sometimes we get so wrapped up in what’s happening or going to happen, we jump in without looking where we leap. This can be dangerous. With all the concentration on the upcoming TRID changes and the two new TRID forms, it’s important to be…
The NFL football season finally got into full swing on Sunday with a slate of games nationwide. There was drama, intrigue, excitement and fun for all (except if your team lost). For the most part, it was a typical fall Sunday afternoon (although it’s not quite Fall, yet). There were great games, upsets, controversy and big plays, with one major…
It’s taking a little longer than prior generations, but the current Millennial generation is growing up and starting to take hold of their future. Although their priorities may be a little different, many of the more than the 75 million Millennials, now between the ages of 18 and 29, will look to purchase a home in the next 5 years.…
