The government regulation that includes TRID was meant to benefit consumers. It’s been a bewilderment at best and a disaster in many cases. Home Buyers have experienced unprecedented delays and inexcusable inconvenience and loss as detailed in the article below. The first thing most Realtors noticed was that Home Sellers are apparently not considered consumers… Read More
Eighty-six percent of the typical bank’s mortgage loans made last year were “qualified mortgages,” according to the American Bankers Association’s 23rd annual Real Estate Lending Survey. Despite an increase in non-QM lending, the survey results revealed that 72 percent of respondents expect the Consumer Financial Protection Bureau’s mortgage lending rules will continue to cause a… Read More
This past fall marked the dreaded TRID start date. Promises by lenders that closing schedules would not be affected proved to be, not surprisingly, empty. TRID has indeed had an impact on closing dates. However, home sellers seem to be accepting of the changes and I believe education is the key. Walking through a timeline… Read More
This year started off with the average time to close a loan increasing to 50 total days, according to the latest Origination Insight Report released by Ellie Mae®. While the average time to close a refinance increased one day from 47 to 48 days, the average time to close a purchase loan climbed one day to… Read More
The article below explains some of the new regulations that home buyers will be subject to during the mortgage process. I’ve been to several classes on this subject and feel that I’ve got a fairly good handle on these measures. But I suppose that remains to be seen as many mortgage loan offers have given… Read More
