Because of continuing problems in implementing the TRID integrated disclosure rule, lenders have not been able to focus on the new HMDA requirements...
As IMFnews reported recently: one nonbank lender had a $910,000 jumbo mortgage rejected by a secondary market buyer because of a $19 TRID-related mistake on the disclosure form.
Another disturbing wrinkle was CFPB Director Richard Cordray rejecting an administrative law judge’s proposed penalty of $6.4 million against PHH and instead jacking it up to $109.2 million...