CFPB moves TRID date to Oct. 1

Written on June 18, 2015 at 10:50 am

“Administrative error” causes delay of Know Before You Owe rule.  Source: American Land Title Association (ALTA) and Housing Wire. Read More...

CFPB Fails to Comply With Congressional Review Act

Written on June 18, 2015 at 10:45 am

Consumer Financial Protection Bureau (CFPB) Misses the Mark on TRID Guidance, notes the American Land Title Association (ALTA) in its June 4th article.  Read more.  Read More...

U.S. Supreme Court: BANK OF AMERICA, N. A. v. CAULKETT (decided June 1, 2015)

Written on June 3, 2015 at 12:20 pm

BANK OF AMERICA, N. A. v. CAULKETT CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE ELEVENTH CIRCUIT No. 13–1421. Argued March 24, 2015—Decided June 1, 2015*  Read the opinion: US Supreme Court BofA vs Caulkett decided 060115. Press release issued on behalf of Community Bankers Association of Illinois. Excerpt: “The United States Supreme Court in Bank  Read More Read More...

Challenges Loom for Real Estate Industry, NAR Report Finds

Written on May 26, 2015 at 5:17 pm

The real estate sector faces a host of challenges that will require professionals in all facets of the industry to become more adaptable and agile in the coming years in order to remain relevant and competitive, according to a newly released report commissioned by the National Association of REALTORS®. Concern about the erosion of the importance  Read More Read More...

Existing home sales explode as spring homebuying season officially arrives

Written on April 23, 2015 at 2:49 pm

Existing-homes sales surged to their highest annual rate in 18 months, showing a promising beginning to the spring homebuying season, the latest report from the National Association of Relators said.  Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 6.1% to a seasonally adjusted annual rate of 5.19 million  Read More Read More...

Title insurance protects your biggest investment for not a lot of cost

Written on April 9, 2015 at 3:52 pm

Insurance is one of those necessary evils in life. You purchase a policy and hope you never have to file a claim. And in the meantime, you send a regular payment to your insurance company “just in case.”  That’s true of all but one type of insurance. Unlike other policies, title insurance is a one-time  Read More Read More...

TILA RESPA Integration disclosure – CFPB’s Timeline Example

Written on March 23, 2015 at 8:57 am

The Consumer Financial Protection Bureau (CFPB) has created a timeline example to illustrate, in calendar form, the process and timing of disclosures for an example real estate purchase transaction under the TILA RESPA Integrated Disclosure rule that will become effective on August 1, 2015. Access CFPB document here. Read More...

Integrated Mortgage Disclosure Rules & Compliance – Wells Fargo

Written on March 18, 2015 at 9:21 pm

How should you prepare for the August 1, 2015, effective date for the new TILA-RESPA Integrated Disclosure Rule? Wells Fargo issued its Settlement Agent Communication as of March 16, 2015 for compliance with the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rules. Read here. Read More...

CFPB Rules & Closing Compliance – Bank of America

Written on March 18, 2015 at 8:54 pm

How will the new Consumer Financial Protection Bureau (CFPB) rules impact your business?   Bank of America’s Agent Resource Center provides a Q&A addressing a range of questions.  In addition,  the letter to settlement agents covers specific compliance and implementation issues: Bank of America – CFPB Integrated Mortgage Disclosures 3 6 15-FINAL Read More...

56 Percent of 3.3 Million HELOCs Scheduled to Reset With Higher Rates in Next Four Years Are on Underwater Homes

Written on March 5, 2015 at 5:33 pm

IRVINE, Calif. – March 5, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its first-ever U.S. HELOC Resetting Report, which found that 56 percent of the 3.3 million Home Equity Lines of Credit potentially resetting with higher, fully amortizing monthly payments from 2015 to 2018 are on properties that are seriously  Read More Read More...