SoftPro Current is a blog created by the experts at SoftPro to provide up-to-date information on the ebb and flow of the closing and title industry. Whether it's regulatory changes or other important industry topics, SoftPro is your partner and will work alongside you to help make sense of everything.
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Good news for the mortgage industry. Click on the link below to read more. Mortgages Rates Drop Again
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 … Continue reading
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
Check out the free Owning a Home Toolkit from the CFPB for assistance in shopping for a mortgage.
The Consumer Financial Protection Bureau (CFPB) finalized minor adjustments to its mortgage rules which will help nonprofit organizations ensure access to credit and servicing for underserved populations. http://www.consumerfinance.gov/newsroom/cfpb-finalizes-minor-changes-to-mortgage-rules-to-ensure-access-to-credit/
On Monday, September 8th, the CFPB released updated versions of the Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule. The CFPB also included a timeline that helps illustrate the process and timing of disclosures under the TILA-RESPA Integrated Disclosure … Continue reading
On August 26 the Federal Reserve held a webinar addressing some FAQ’s from the CFPB’s TILA-RESPA Integrated Disclosure Rule. One hot topic covered was whether or not owner’s title insurance is subject to the 10% tolerance rule. Below is a summary from the webinar: Q: Is owner’s … Continue reading
The Federal Reserve will host a webinar to address frequently asked questions about the CFPB’s TILA-RESPA Integrated Disclosure rule. The webinar will take place on Tuesday, August 26 at 2 p.m. EST and address the new rule as the various industry stakeholders work to implement it … Continue reading
On April 23rd, the CFPB announced that they were looking for participants for their upcoming e-closing pilot program which is slated to begin in October of 2014. After reaching out to consumers, realtors, loan officers, attorneys, and others involved at closing … Continue reading