Author Archives: SoftPro

Mortgage rates break holding pattern and drop…

While still higher than last year, mortgage rates have broken their holding pattern and dropped, according to Freddie Mac. Click on link to read more Mortgage rates drop

Posted in Fannie, Freddie Mac, Interest rates, Lending, Mortage | Tagged , , , | Leave a comment

CFPB to defend constitutionality to full court

The CFPB appealed the October ruling in which a 3 judge panel ruled in favor of PHH.  The CFPB asked the court to rehear the case en banc, meaning the entire court would hear the case, rather than the three judges who initially presided over the … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , , | Leave a comment

What is the future of the CFPB?

In a memo leaked by Rep. Hensarling it look as if the republicans are looking to substantially change the structure of the C.F.P.B. and limit the scope of its authority.  While it is unlikely that the republicans would be able to repeal … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , | Comments Off

Democrats say No and Republicans say Yes to removing Director Cordray

A group of 21 Democrats in the U.S. House of Representatives has written a letter to President-elect Donald Trump asking him not to remove Richard Cordray as Director of the Consumer Financial Protection Bureau.  Meanwhile, republican senators Ben Sasse of … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , | Comments Off

CFPB announces leadership changes

With less than two weeks before Donald Trump’s inauguration, the Consumer Financial Protection Bureau has released five changes to its senior leadership lineup.  This leadership changeup comes at a time of uncertainty as the CFPB faces an unknown future under a Trump administration. … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , , | Comments Off

How will the outcome of the election affect housing reform?

No one knows…not really.  President-elect Donald Trump didn’t say much over the past 18 months regarding the mortgage industry and housing reform.  What this means is we don’t really know what to expect.  We do know that the GOP has control … Continue reading

Posted in CFPB, CFPB Hot Topics, Mortage, TRID | Tagged , , , , | Comments Off

CFPB creates guide for the settlement agent

The CFPB created a resource for settlement agents called “The Settlement Professional’s Guide”. This guide was designed to help settlement professionals navigate through TRID. It highlights what hasn’t changed, what has changed and how to move through a transaction under … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , | Comments Off

Highlights from the proposed TRID amendments

Recently the CFPB released proposed amendments to TRID. While the majority of the 293 page document consisted of clarification on existing TRID rules and regulations within the Final Rule there were also some notable sections that stood out: The first … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Tagged , , , , , , | Comments Off

CFPB Releases Proposed TRID Amendments

Today, the Consumer Financial Protection Bureau (CFPB) released several proposed amendments to the TILA-RESPA Integrated Disclosure (TRID) rule. The CFPB will be accepting comments to the amendments until October 2016, before final regulations are issued. Click the link below to … Continue reading

Posted in CFPB, CFPB Hot Topics, TRID | Comments Off

CFPB not likely to address title insurance premiums with update to TRID

While the CFPB still has not released any updates to TRID it looks like when they do it won’t include changes to the title insurance premiums disclosure rules. In a recent July 14th letter, Director Cordray said that fixing the … Continue reading

Posted in CFPB, CFPB Hot Topics | Tagged , , , , , , , | Comments Off