The MBA, along with other mortgage and banking industry trade groups, are challenging CFPB’s ‘Proposed Guidance’ for handling the disclosure of HMDA data. The CFPB proposes to exclude certain loan-level data points, modify other data points prior to disclosure, and disclose other information without modification. The trade groups say the disclosure of information will put the consumer at risk. Consumers…
Like those TV drama series, the mortgage market is poised for its winter season finale. We are faced with all kinds of suspense coming from what might happen in 2018. Based on current headlines, we see: An increase in home buyer and seller sentiment A forecast for rising interest rates A shortage of housing Increasing home equity Increased FHFA and…
Are Millennials Ready to Buy? We’ve been hearing for a while that the Millennial generation is poised to start buying homes. Fannie Mae and USC research appear to show it will be in 2018. That would be great for Builders, Realtors and mortgage lenders. If you build it – will they come? Builders are banking on it. With the shortage…
The debate rages on. Who will really benefit from the current tax reform proposals? Some say the rich, some say the middle class, and others say the big corporations. Maybe, it’s all three. One big question revolves around the elimination of the SALT deductions. Critics argue this is “double taxing” that would hurt the middle class. Others say, not so…
It seems some may still be a little confused on how to disclose and treat seller credits, according to the results of some of the reviews we do here at LoanLogics. TRID requires a lender to provide a good faith estimate of the fees that may be charged to, or imposed on, the borrower. That means that any fee disclosed…
As the Rolling Stones sang, “If you try sometimes you might find you get what you need.” If Brian Montgomery is confirmed by the full Senate as the new FHA Commissioner, and it is reported he will be, Realtors and mortgage lenders are looking for FHA to reduce their mortgage insurance premiums. He may try but it appears he may…
