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CFPB-TRID-RESPA FAQs Update – Loan Estimates

Written By: Tammy Butler, Master CMB The CFPB continues to clarify industry questions from lenders regarding TRID disclosures and RESPA requirements. In this update the bureau addresses frequently asked questions on Loan Estimates. Rule Synopsis: Periodically, the CFPB issues clarifications to the very complex TRID-RESPA rules. They communicate these clarifications through the TRID-RESPA FAQs, which [...]

2019-08-09T13:33:31-05:00August 12th, 2019|

CFPB – Know Before You Owe – Mortgage Shopping Study [Includes NEW MTP™ What is Mortgage Insurance? & NEW MTP™ What is the Difference Between Interest Rate and APR?]

By: Tammy Butler, Master CMB Mortgage originators are reporting that more people are shopping for a mortgage than ever before.  Perhaps this is based on consumer education pouring out of the CFPB.  This article highlights a recent study of mortgage shoppers.  Read this and ask yourself what you can do better to prevent the “price [...]

2018-06-11T10:55:19-05:00June 8th, 2018|

CFPB – Consumer Financial Protection Bureau Releases Final TILA-RESPA Rule – Dated April 26, 2018 – Effective June 1, 2018

By: Lloyd Rutherford, Staff Writer Lenders and consumers have struggled hard with the 4-day waiting period required for the closing disclosure.  Read through this update to find out what is changing and how it will affect your practices. Rule Synopsis: Consumer Financial Protection Bureau releases notice of final rule for TILA-RESPA. Changes are related to [...]

2018-05-29T16:50:56-05:00May 9th, 2018|