The Independent Community Bankers of America said it plans to collaborate with the CFPB to test certain community bank-inspired improvements to the TRID rule through the trial disclosure “sandbox” program.
Flagstar is offering mentorship and other forms of support to startup companies toiling in the mortgage technology space. Three tech companies completed a similar program with the bank last year.
Even though Fannie Mae and Freddie Mac have loosened standards for property appraisals, lenders are choosing the option of using appraisal waiver programs.
Flipped houses represented 6.7% of all single-family homes and condos sold in the second quarter, down from 7.5% of all sales in the prior period. (Includes data chart.)