On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”
While most borrowers felt positive about the new forms, 63 percent said their experience with TRID prevented them from closing on their new homes within the desired timeframe.
Craig Dwight, Horizon Bancorp’s chairman and CEO, indicated that the TRID mortgage disclosure rule had an impact on warehouse lending during the quarter.
“Investors are taking the conservative approach,” said the Morrison & Foerster attorney. “No one wants to be the test case. They’re all worried about what a court might say.”
Thanks to a resurgence of deals backed by vehicle-related financing, non-mortgage ABS production rebounded strongly in the first three months of 2016, according to a new Inside MBS & ABS analysis and ranking. But ABS issuance levels came up well short of the volume generated during the first three months of last year, and a few key segments continued to limp along. A total of $41.42 billion of non-mortgage ABS were issued...[Includes two data tables]