This article concerning Marketing Service Agreements, or MSA’s, was written by Warren Goldberg, President of Mortgage Wealth Advisors and is being shared with his permission. What is an MSA or Marketing Service Agreement? ‘The residential mortgage origination industry has long used Marketing Services Agreements (MSAs) to establish the terms of certain marketing arrangements. An MSA, written […]
On October 3, 2015, sweeping changes in the way that a residential mortgage loan is processed and closed will go into effect! TRID, or TILA-RESPA Integrated Disclosure, was originally due to be implemented August 1, 2015 but that was ultimately extended to October 3. The reason for the extension provided at the time was a missed […]
New mortgage disclosure rules or TRID (TILA-RESPA Integrated Disclosures), scheduled to take effect on August 1, 2015, will now be implemented two months later on October 1st! The delay in the implementation of TRID, designed to replace Truth-in-Lending and the Real Estate Settlement Procedures, was mandated because the CFPB (Consumer Financial Protection Bureau) missed a filing […]
But is what’s good for the consumer necessarily an easy thing for the mortgage industry to actually implement? While the new mortgage disclosures will be easier for consumers to read and understand compared to the jargon of today, for the many players in the mortgage industry that come together to make-up a successfully closed loan, […]
Whether you have bought and financed a home in the past or you are about to embark on your first experience, the Home Loan Toolkit provided courtesy of the Consumer Financial Protection Bureau (CFPB) will serve to be an invaluable tool and resource! If for some reason the Home Loan Toolkit does not load correctly […]
Follow @Hallmark Abstract Service Last week we wrote an article that included an infographic defining what a Zombie Foreclosure is and the harm they do to the neighborhoods that they are in! These abandoned properties tends to be neglected, possibly vandalized and most definitely eyesores detrimental to the value of the other houses around them. […]
