1/9/14 6:53 PM
The Qualified Mortgage (QM) Rule effective January 10th
Posted by
SoftPro on 1/9/14 6:53 PM
Here is some good news from the lending community...
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1/8/14 12:46 PM
New numbering system on the Closing Disclosure Form...
Posted by
SoftPro on 1/8/14 12:46 PM
The new final closing disclosure form does not retain the current line numbers on the HUD-1. Instead it is divided into Loan Costs and Other costs with subsections under each. Not only is this a big learning curve to all of us who know the current HUD-1...
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1/8/14 10:47 AM
Wondering which loans do not apply to the Final Rule?
Posted by
SoftPro on 1/8/14 10:47 AM
The Final rule applies to most consumer mortgages, EXCEPT:
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Every licensed Agency, every non-resident agency with a Florida license, every Florida Direct Operation, every attorney or law firm who owns a title agency and/or operates under a DFS license, and each insurer should plan to start capturing data January...
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1/7/14 11:57 AM
TDI issues a Guaranty Assessment Recoupment Fee (GARC)
Posted by
SoftPro on 1/7/14 11:57 AM
The Texas Department of Insurance (TDI) issued an order setting a Guaranty Assessment Recoupment (GARC) Fee effective January 1, 2014. All title agents will be required to collect a GARC fee of $1.80 on each owner and loan policy. This fee must be...
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http://www.bloomberg.com/news/2013-12-18/builders-began-work-on-most-u-s-homes-in-more-than-five-years.html
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The Final Rule allows for a 21 month implementation timeline. The industry efforts and comments clearly demonstrated the need for a lengthy time period to ensure proper implementation of the Final Rule as well as the Final Closing Disclosure Form. The...
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11/20/13 8:22 AM
CFPB sneak peek of what we can expect to see in the Final Rule
Posted by
SoftPro on 11/20/13 8:22 AM
3 day rule - Only 3 reasons for delay are a 1/8 change in APR, a change in loan product and addition of a prepayment fee can cause the trigger of restarting a new 3 day waiting period.
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11/20/13 7:52 AM
CFPB Releases the final new Closing Disclosure Form
Posted by
SoftPro on 11/20/13 7:52 AM
The CFPB released the new closing disclosure form at 12:01 am this morning.
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11/15/13 9:59 AM
Mortgage rates on the rise but still good deal for home buyers...
Posted by
SoftPro on 11/15/13 9:59 AM
http://www.bloomberg.com/news/2013-11-14/u-s-mortgage-rates-climb-for-a-second-week.html
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