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, […]
We’ve all seen the commercials starring actors like The Fonz (Henry Winkler) or Fred Thompson (actor and politician) that extoll the virtues of reverse mortgages for Americans over 62 who own a home and who need cash flow! The commercials address concerns that both the homeowner and potentially the homeowners children may have about this […]
