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.

The HECM loss mitigation option is available if there is no indication that the borrower vacated the property or if he or she is attempting to make payments on the amounts due.

The SFIG draft includes details on potential cures for TRID violations.

This same official also predicted that if TRID errors ever become an issue on Fannie Mae/Freddie Mac loans, the entire mortgage market would come to a halt...

Although the GSEs have not started conducting routine quality control file reviews for technical compliance with the TRID rule, they are checking to make sure the new forms are being used.

“The real punch in the gut is the investor taking 30 days to review” the mortgage, said the CEO. “Then they said it’s not up to their standards.”

The RHS stated that it may seek indemnification in cases of fraud or misrepresentation regardless of when the loan closed or when the default occurred.