The RFI includes a variety of questions regarding timing requirements for TRID disclosures, fee disclosure tolerance thresholds, how borrowers’ right of rescission impacts refinances and issues involving reverse mortgages.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.58% in the week ending July 3, according to the MBA.
“The market wrestled with some uncertainty throughout the spring shopping season, but mortgage rates declining from their mid-spring peak has added some extra heat as we head into an already toasty summer,” said Mischa Fisher, chief economist at Zillow.
“I understand how the Department of Housing and Urban Development and FHA operate behind the scenes, how decisions are made, and what it takes to successfully close complex financing transactions from both sides of the table,” Frank Cassidy wrote on Linkedin.