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...

U.S. Supreme Court focuses on consumer right of rescission

Written on February 9, 2015 at 11:01 am

Three days or three years?  A very recent U.S. Supreme Court case brings some focus on the very important consumer right of rescission as codified in the Federal Code at 12 C.F.R. § 226.23(a)(3) and 12 C.F.R. § 226.2(a)(13).   JESINOSKI ET UX. v. COUNTRYWIDE HOME LOANS, INC., ET AL., No. 13–684. Argued November 4, 2014—Decided  Read More Read More...

The CFPB will affect your real estate transactions

Written on February 9, 2015 at 10:07 am

REALTORS® Speak Out; Lenders Concerned: The National Association of REALTORS® (NAR) has begun to speak out about what the Consumer Financial Protection Bureau’s (CFPB) rule on integrated mortgage disclosures will mean for their members’ business. Stewart Title’s Guide to CSFB Compliance. These articles provide needed insight to real estate professionals on how the August 1 change  Read More Read More...

Mortgage Applications Rise as Purchase Activity Soars

Written on November 19, 2014 at 4:54 pm

Mortgage application volume increased for the first time in a month last week driven by more purchase activity.  The Mortgage Bankers Association’s market composite index was up 4.9% for the period ending Nov. 14 . . . Read more (via National Mortgage News, 11/19/14 article by  Evan Nemeroff. Read More...

Tipping Point Coming for Electronic Closings

Written on November 5, 2014 at 2:26 pm

After more than a decade of hype and promise, fully electronic loan closings remain rare, even as the mortgage industry increasingly adopts digital workflow. But some industry observers believe a new regulatory pilot program may do what technology advances and e-commerce advocates could not: spark widespread adoption of e-closings. Read more >>>    Source:  National  Read More Read More...