The top revenue generator for MBA was membership dues at $18.24 million. Its annual convention took in $7.5 million while all other conferences generated revenue of $17.70 million.
The CFPB’s TILA/RESPA Integrated Disclosure Rule continues to have mixed results, at least from the perspective of the nation’s mortgage originator community. According to the recently released results of a survey by the National Association of Realtors of mortgage originators during the second quarter of 2016, delays attributed to TRID eased between the first and second quarters of the year, as did lenders’ reluctance to offer pre-approval letters, while cancellations ticked up. Originators were asked, since April 1, what share of their company’s mortgage transactions had been delayed or cancelled due to a TRID-related issue versus non-TRID issues. Mortgages delayed due to TRID ticked barely down, from 1.8 percent in 1Q16 to 1.7 percent in 2Q16. In the fourth quarter ...
A National Association of Realtors survey of mortgage originators during the second quarter of the year found that lending outside the parameters of the qualified mortgage standard remains in the doldrums, even though there appeared to be a slight improvement in demand from investors for such loans. Survey participants were asked to provide the percentage share of their production for safe-harbor QM loans, rebuttal-presumption QM loans, and non-QM loans. Respondents indicated that a whopping 93.2 percent of production was in the safe-harbor QM space during 2Q16, up from 89.9 percent in 1Q16. That gain came at the expense of the other two categories. Production of rebuttable-presumption QMs fell from 9.9 percent in the first quarter of the year to 6.7 percent ...
Most of the small-entity participants in the review processes run by the CFPB before it came out with four major mortgage rules felt they were hurried by the process and unsatisfied with the final results, the Government Accountability Office said in a recent report. The GAO took a look at the experience of the 69 Small Business Regulatory Enforcement Fairness Act (SBREFA) panel participants involved in evaluating the likely effects of the CFPB’s TILA/RESPA Integrated Disclosure rule (TRID), the mortgage servicing regulation, its loan originator compensation rule, and the Home Mortgage Disclosure Act regulation. Of the 57 small-entity representatives GAO interviewed, “two-thirds stated not enough time was allotted to discuss at least one of the topics on the panel agenda ...
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