The New 2016 ALTA Commitment...SoftPro has You Covered!

Posted by SoftPro on 12/19/17 10:02 AM

Although the decertification date of the 2006 ALTA Commitment has been pushed back to August 1, 2018, you can still use the new 2016 Commitment now! SoftPro has worked with the various underwriters to ensure that the updated 2016 ALTA Commitment is ready and available for you now.

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Tags: Regulatory and Compliance

Decertification Date of the 2006 ALTA Commitment Changed to August 1, 2018

Posted by SoftPro on 11/8/17 1:29 PM

ALTA recently announced that on August 1, 2018, both the ALTA Commitment (06-17-06) and the ALTA Short Form Commitment (10-16-08) will be decertified from the current collection of standard ALTA forms and moved to the archives. The original decertification date for the 2006 ALTA Commitment was December 31, 2017. The reason for the change in the decertification date is to have the date coincide with the decertification of the ALTA Short Form Commitment. 

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Tags: Regulatory and Compliance

The new CFPB amendments and how they affect your SoftPro software

Posted by SoftPro on 7/20/17 9:22 AM

As you may know, the Consumer Financial Protection Bureau (CFPB) recently finalized updates to its “Know Before You Owe” mortgage disclosure rule on July 7. For a full summary of the final amendments from the CFPB, click here.

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Tags: Regulatory and Compliance

CFPB TRID Amendments: what do they mean for the title and closing industry?

Posted by SoftPro on 7/11/17 5:22 PM

As many of you know, CFPB recently released amendments to its TRID rule.  While we would have preferred to see the CFPB address the owner's title insurance calculations, not much changed from the proposal except the “optional” implementation date.

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Tags: Regulatory and Compliance

The CFPB released the final TRID amendments intended to provide more clarity and preserve protections for consumers

Posted by SoftPro on 7/10/17 9:51 AM

On July 7, the Consumer Financial Protection Bureau (CFPB) finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments that are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will facilitate implementation of the Know Before You Owe rule by the mortgage industry. The CFPB is also releasing a limited follow-up proposal to address an additional implementation issue.

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Tags: Regulatory and Compliance

NC is at the forefront of first-ever eClosing and plans to make it new standard in state

Posted by Ellen Crema on 5/12/17 12:17 PM

So exciting to see that North Carolina passed a major milestone in the housing finance industry this month, performing its first ever eClosing!

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Tags: Regulatory and Compliance

Did you know? Indiana joined states with predictable recording fees.

Posted by SoftPro on 5/9/17 5:08 PM

According to ALTA, Indiana became the latest state to enact legislation that enacts predictable recording fees, which helps facilitate fee accuracy and compliance with the TILA-RESPA Integrated Disclosures rule.

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Tags: Regulatory and Compliance

SoftPro® Wins Gold in 2017 American Business Awards

Posted by SoftPro on 5/5/17 9:18 AM

SoftPro® Wins Gold in 2017 American Business AwardsSM

We are so happy to announce that SoftPro was named the winner of Gold Stevie® Awards in both the Company of the Year - Real Estate and Customer Service Department of the Year categories in The 15th Annual American Business Awards!

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Tags: Regulatory and Compliance

Did you know that CFPB proposes new changes to HMDA?

Posted by SoftPro on 4/14/17 11:35 AM

According to Housing Wire, the Consumer Financial Protection Bureau issued a much-asked-for proposal to clarify the 2015 updates to the Home Mortgage Disclosure Act rule, in order to help ensure industry compliance, according to the national regulator.

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Tags: Regulatory and Compliance

Mortgage rates break holding pattern and drop...

Posted by SoftPro on 3/6/17 10:45 AM

While still higher than last year, mortgage rates have broken their holding pattern and dropped, according to Freddie Mac.

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Tags: Regulatory and Compliance

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