TRID

Risky Mortgage-Backed Securities Given a AAA Rating Once Again

Today’s News Synopsis: Net gains on loans originated by independent mortgage banks increased in the third quarter while profits continued to remain relatively stable.  HELOCs are starting to become more expensive and may continue to do so with the rise in interest rates.  Risky mortgage-backed securities have now been given a AAA rating once again. …

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Real Estate Board of New York Report Shows Declining Optimism in Market Could Actually Benefit Consumers

Today’s News Synopsis: The NAHB reported an increase in builder confidence by 2 points, putting it now at 60.  The Real Estate Board of New York released a report showing real estate brokers have less optimism in the market, but this could actually be good for those wanting to buy or rent.  The CFPB has …

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Jeb Hensarling and Republicans Reveal Plan to Replace Dodd-Frank with Financial CHOICE Act

Today’s News Synopsis: Consumers are being warned by HUD to be on the lookout for scammers making false promises of giving a housing grant in exchange for a fee.  In an update on the situation with Dodd-Frank, the House Financial Services Committee chairman Jeb Hensarling and the Republican party presented their plan to replace the …

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Bruce Norris Believes Lender Hesitancy Holding Back Real Estate Growth

Today’s News Synopsis: In a story featuring our very own Bruce Norris, he believes one thing holding back growth in the real estate industry is lenders being selective about who they give loans.  The Mortgage Bankers Association reported delinquency rates for commercial/multifamily mortgages are still relatively low while CMBS loans are at an all-time low. …

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Despite All Odds, Existing-Home Sales Continue to Increase

Today’s News Synopsis: Despite all odds, existing-home sales are continuing to show positive signs of increase, having risen 1.7% to 5.45 million.  Many housing advocacy groups and stakeholders in the industry are urging FHFA director Mel Watt to bring more changes to housing finance reform.  Mortgage applications decreased 4.1% according to the Mortgage Bankers Association. …

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Texas Supreme Court Rules in Favor of Ocwen Over Lien Settlement

Today’s News Synopsis: The National Association of Realtors reported existing-home sales increased last month by 1.7% to 5.45 million.  A fine dealt to Bank of America totalling $1.27 billion over fraud was overturned by the United States Court of Appeals for the Second Circuit.  At the same time, the Supreme Court of Texas ruled in …

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NAR Reported Existing-Home Sales Increased 1.7%

Sources: NAHB Index Unchanged in May, Pointing to Steady Housing Growth Housing Starts Up 6.6 Percent in April Mortgage Applications Decrease in Latest MBA Weekly Survey Existing home sales manage to increase two months straight ‘Zombie’ foreclosures down 30% in second quarter Freddie Mac: 30-year mortgage rate about to start rising? MBA: 30-year mortgage rate …

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Claire Bartos

New TRID Procedures and the CFPB Revisions with Claire Bartos of Las Brisas Escrow #485

Bruce Norris is joined this week by Claire Bartos. Claire is the branch manager and senior escrow officer at Las Brisas Escrow, as well as she is Bruce’s favorites person with whom to do escrow. Lots of regulation and rule changes have taken place since the downturn. Claire talks about new processes and procedures and …

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Bank of America Settles With FHL Bank of Des Moines Over Mortgage Complaints

Today’s News Synopsis:   Home prices are showing a steady upward trend and have almost halfway recovered.  A lawsuit between Bank of America and FHL Bank of Des Moines regarding mortgage complaints has been settled.  The latest survey from the Mortgage Bankers Association shows a 3.4% decrease in mortgage applications and a relatively flat purchase …

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