The Consumer Financial Protection Bureau’s integrated-disclosure rule has been in effect for more than 18 months now, and industry compliance professionals still have a number of questions in need of answers as they await the issuance of the so-called TRID 2.0 rule from the agency. The rule had been expected in the first quarter of 2017, but to date, not a peep has been uttered by the agency as to the cause of the delay or when lenders might expect the final rule. The Treasury Department recently issued...
Mark Filler, who departed “fix and flip” lender Finance of America Commercial early this spring, said he has amassed $1 billion of commitments from private equity investors and plans to enter the market once again, but this time as a buyer of properties. He also expects to launch a new business to provide advances to real estate agents based on their commissions, and then – if successful – roll out a similar program to fund mortgage brokers. He anticipates paying referral fees to mortgage companies that send business his way. “My goal is...
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