No plans to delay August 1, 2015 implementation date…

Steven Antonakes, deputy director of the Consumer Financial Protection Bureau, suggested in a speech on Wednesday that the CFPB could delay the Integrated Disclosure deadline, the CFPB immediately responded….

CFPB responds to delay comments

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Mortgage Rates Fall Again

Good news for the mortgage industry.  Click on the link below to read more.

Mortgages Rates Drop Again

 

 

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CITI issues second round of communication regarding the upcoming TRID changes

Citi sent out, “This is the second in our series of planned communications regarding the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure Rule (Rule) that will be effective for most mortgage applications taken on or after August 1, 2015.  Click on the attached document to view memo to agents.

 

 

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Bank of America issues memo to settlement agents stating responsibility for compliance requirements

Bank of America issued a memo to their settlement agents today relaying their expectations for compliance starting August 1, 2015.  Click on the link below for more information.

Bank of America CFPB Integrated Mortgage Disclosures – Responsibility for Compliance – March 6, 2015

 

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JP Morgan Chase to prepare and deliver the Closing Disclosure Form

JPMorgan joins several other large lenders in their decision to prepare and deliver the closing disclosure form starting August 1, 2015.  Click on the link below for more information.

JPMorgan Chase Announcement: Thursday, March 05, 2015

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Union Bank issues closing disclosure form memo

Union Bank issued a memo this week stating that they will be using a Web-based tool called Closing Insight™ to facilitate the exchange of all documents, data and information related to loan closings.

Click on the link below to read more:
Union Bank Closing Insight Memo

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Chase Bank announces they will prepare and deliver the closing disclosure form starting August 1, 2015.

Click on the link below to view announcement:

Chase CDF Announcement

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CFPB Takes Action Against NewDay Financial for Deceptive Mortgage Advertising and Kickbacks

The CFPB took action against NewDay Financial, LLC for deceptive mortgage advertising and kickbacks. NewDay deceived consumers about a veterans’ organization’s endorsement of NewDay products and participated in a scheme to pay kickbacks for customer referrals. NewDay will pay a $2 million civil money penalty for its actions.

Click below to read more:

NewDay Financial Article

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Good News for the title and mortgage industry

Home lending set to bounce back in 2015

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Thinking about buying a home?

Check out the free Owning a Home Toolkit from the CFPB for assistance in shopping for a mortgage.

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