CFPB addresses ‘black hole’ in mortgage disclosure rule

The Consumer Finance Protection Bureau (CFPB) last week finalized changes to address so-called “black holes” in the “Know Before You Owe” mortgage disclosure rule. The “black holes” created ambiguity about when lenders had to tell potential borrowers about closing costs. 

Borrowers Beware: These Mortgage Rules Could Soon Get a Facelift

(TNS)—Getting a mortgage today is much different than it was before the financial crisis. Loans have to meet certain standards and there are many rules lenders and servicers have to follow. But after a shakeup in leadership at the Consumer Financial Protection Bureau (CFPB), the future of some policies is uncertain. Here’s why: The new […]

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Know Before You Owe: A Work in Progress

The Consumer Financial Protection Bureau’s (CFPB) “Know Before You Owe” harmonization of the Truth in Lending Act and the Real Estate Settlement Procedures Act (TILA-RESPA, or TRID) has been a work in progress for several years, overhauling mortgage disclosure practices to improve clarity with the home-buying process. With the CFPB’s guidance and willingness to reduce […]

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CFPB Finalizes ‘Know Before You Owe’ Updates

The Consumer Financial Protection Bureau (CFPB) recently finalized updates to the TILA-RESPA Integrated Disclosure rule (TRID), or “Know Before You Owe,” including clarifying the sharing of the Closing Disclosure (CD) with third parties—a concern for many in the housing industry since the rule’s implementation in October 2015. “The Bureau understands that it is usual, accepted, […]

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TRID update: It’s ‘appropriate’ for agents and brokers to access Closing Disclosure

The CFPB finalized updates to the 560-page TRID rules, including an update about privacy and sharing of information that should make it easier for agents and brokers to access the Closing Disclosure. …

Jobs, Homes and Quality of Life: Why Homeownership Is Booming in Idaho, and How TitleOne Is Helping the Cause

Idaho has a lot going for it these days. Just ask Mark Tidd, CEO of Boise-based TitleOne Corporation, with 13 locations serving 14 counties throughout the state. From affordability to lifestyle, Idaho’s allure is attracting many out-of-state homebuyers, drawn by the promise of an all-around better quality of life. In this exclusive interview, Tidd shares […]

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ClosingCorp survey: 52 percent of lenders ‘off’ on initial home loan estimate

In October 2015, TRID — the TILA-RESPA Integrated Disclosure rule, or “Know Before You Owe” — was implemented to make the lending and mortgage process more transparent and easier to understand for consumers …

Why are closing times continuing to increase under TRID?

Did loans take an unusually long time to close in November, or was that simply your imagination? You probably didn’t dream it up …

Podcast: A survey of how agents are gauging the 2017 market (part 2)

In this episode, we’re picking up where we left off with an in-depth discussion of the national agent survey we recently completed and an in-depth focus on some of the issues affecting real estate agents today …

3 inspiring real estate lessons from NASA’s twin brothers

Mark and Scott Kelly are identical twin brothers who have been astronauts in NASA’s space program for decades. Career highlights include commanding the space shuttle, and for Scott, spending 340 days in space — a U.S. record …