How many more of W.J. Bradley's TRID-error loans will be sold in the scratch-and-dent market?

An estimated 96 million adults in the U.S. are renters who have never had a mortgage, many of whom would seem to be prime targets for first-time homeownership. However, more than half of the renter population is unlikely to receive mortgage financing anytime soon, due to underwriting factors or a preference to remain a renter, according to industry analysts. In a new report, researchers at the Urban Institute’s Housing Finance Policy Center developed ...

Individual borrowers purchasing homes in the era of the Consumer Financial Protection Bureau’s integrated disclosure rule, dubbed TRID, generally seem to be having an improved overall customer experience, despite a few bumps in the road, according to two recent surveys. But the progress for homeowners is coming at the expense of mortgage lenders. A survey from the STRATMOR consultancy found that overall borrower satisfaction is at a multi-year high ...

The HFPC found that 63.8 million adults – 52 percent of renters in the country – don’t have a high enough credit score to qualify.

Fact: The Mortgage Metrics report for the third quarter of 2015 was 66 pages while the most recent issue was slashed to just 14 pages.

The MI industry’s future also hinges on Fannie and Freddie, which by statute must have MI coverage on the high loan-to-value ratio mortgages they buy.

The AMI chief warned that at some point the GSEs may decide to review TRID documentation and penalize lenders who made even small clerical errors in the disclosures.

According to survey figures from Inside Mortgage Finance, WJB funded $410 million in 4Q15. Typically, it sold jumbos on a correspondent basis to secondary market investors, including JPM.

Can (and will) Congress act to fix the TRID mess?

Except for 2012, the biggest year in program activity, most of the loans originated under HARP had rates above today’s levels.