The Department of Veterans Affairs has issued new guidance clarifying how VA lenders should comply with the disclosure requirements of the new TRID rule. TRID, which stands for Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosures, was adopted in final form by the Consumer Financial Protection Bureau on Oct. 3, 2015. Specifically, TRID establishes new requirements regarding mortgage disclosure forms, which lenders must use for all home loans. Lenders are required to itemize the services and fees they charge to borrowers on the TRID disclosure forms, instead of on the HUD-1 closing statement, in connection with a loan application to purchase or refinance an existing mortgage. However, switching from the HUD-1 to the TRID form has caused uncertainty among VA lenders as to how to complete the new forms. VA’s TRID guidance lays out ...

Closing times are improving but not by leaps and bounds.

NAR voiced its dismay that some mortgage bankers are making it difficult for Realtors to obtain a copy of the closing disclosure form or CD...

Former CFPB enforcement attorney Jennifer Lee said the Circuit Court was hostile towards the CFPB’s arguments on statute of limitations, separation of powers, constitutionality of the agency and more...

First Republic, which lends to the affluent, earned $148.87 million in the first quarter of 2016, up 6.3 percent from the previous period...

Here's a product idea: hit a button on your cell phone and get foreclosed on...

A pilot effort by the Treasury Department’s Financial Crimes Enforcement Network is underway in New York City and Miami to track suspicious “all cash” purchases of high-end residential properties as part of the government’s anti-money laundering (AML) enforcement. In remarks during a recent AML conference in Florida, FinCEN Director Jennifer Shasky Calvery said geographic targeting orders (GTOs) were issued by the agency in January this year and went into effect on March 1. They require identification of high-end cash buyers to ensure luxury residences purchased with cash are not masking money laundering activities. Specifically, U.S. title insurance companies are temporarily required...

Wells Fargo was the top seller to the GSEs in the first quarter with $22.75 billion, followed by Quicken Loans ($11.33 billion) and JPMorgan Chase ($6.87 billion).

It’s expected that Blackstone/Finance of America will target borrowers who are self-employed and have a harder time qualifying for conventional mortgages.

Investors take note: The collateral has a current interest rate of 8.15 percent.