Loan Estimate comparison tool helps buyers weigh options

Some people consider the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rule burdensome, and some people even jokingly refer to the acronym as “The Reason I Drink.” But for others like eLend — a company that uses technology to simplify the mortgage process — TRID is an opportunity …

Is TRID helping consumers like the CFPB intended?

Plenty of industry surveys have shown that the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure (TRID) rule has negatively impacted real estate agents, lenders and settlement agents, but how has the mortgage transaction overhaul affected borrowers — the very people the bureau intended to help in creating the rule …

10 reasons why mortgage investors are rejecting TRID loans

The other shoe has dropped: With thousands of loans closed under the new regulatory regime now making their way to the secondary market, investors are refusing to buy them due to compliance problems and loan document errors …

TRID — the reason I drink

The new TILA-RESPA Integrated Disclosure (TRID) went into effect on Oct. 3, 2015. It’s two months later, and real estate professionals, as well as many buyers, have given the acronym a new meaning: TRID stands for “the reason I drink.” …

Breakdown of CFPB’s recently implemented changes

As real estate agents, we are all aware of the challenges associated with ensuring a smooth transaction for our clients. The Consumer Financial Protection Bureau’s (CFPB) recently implemented changes that may make closings more complicated. …

New mortgage disclosures take effect

On Oct. 3, new mortgage disclosure forms were rolled out. In the future, borrowers will receive two new disclosures: the Loan Estimate, which outlines the terms and projected closing costs, and the Closing Disclosure, which will be received at least th…

Understanding the change from HUD-1 to the new Closing Disclosure

Contrary to popular belief, the new Closing Disclosure will remove a lot of the buyer’s anxiety from the home-buying process. Real estate agents and lenders are spreading some gloom and doom about this new document when, in actuality, we simply need to…

10 questions you should ask lenders regarding TRID

As a real estate agent, it is important to be ready for Oct. 3 and the TILA-RESPA Integrated Disclosures Rule. Much of that preparation is checking with your lender. In fact, an interview of sorts is appropriate to determine how prepared the lender is …

Trick or TRID

Well whether you like it or not, TRID or Truth In Lending- RESPA Integrated Disclosure is here to stay, at least for now. So once again it’s our job to educate ourselves and our customers on how these changes are going to affect them. I sat down with S…

Understanding the TRID rule and fee tolerances

On Oct. 3, 2015, new integrated Truth in Lending and RESPA disclosures take effect for most residential real estate transactions. While the new disclosures were drafted to facilitate consumer shopping, clients will certainly have questions. This articl…