Get Your TRID On. The Consumer Financial Protection Bureau has put out a Know Before You Owe guide for real estate pros to help them navigate the upcoming TILA/RESPA Integrated Disclosure rule, otherwise known as TRID.
The mortgage finance industry generally supports the final interagency statement on diversity policies and practices issued by the federal banking regulators, the Consumer Financial Protection Bureau and the Securities and Exchange Commission, but called for additional clarification on some of the data being sought in order to maximize its effectiveness – and to limit lenders' liability.
The Federal Housing Finance Agency released final housing goals for Fannie Mae and Freddie Mac for 2015 through 2017 on Wednesday. It increased both the single-family low-income purchase goals and multifamily low-income goals and established a new low-income housing subgoal for small multifamily properties.
All three mortgage production channels saw solid gains in originations from the first quarter to the second quarter of 2015, but correspondents had the best of it.
The metric will assess lender performance based on the lender’s default rate within three credit-score bands and compare it to an FHA target rate, rather than to the lender’s peers.
Although all 13 firms reported positive earnings on their origination and sales activity, many noted that production-related revenue did not keep pace...