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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Tag Archives: Banks
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
While we are seeing all time low interest rates, we aren’t seeing the expected increase in loan volume. The tighter rules and regulations tied around obtaining a loan is making it more difficult for a consumer to take advantage of … Continue reading
This Thursday, April 7th at 10:00 am EST, Director Cordray will testify before the Senate Banking Committee in a session called “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” Use this link to access the live webcast on Thursday, April 7th at 10:00 … Continue reading
JPMorgan Chase is selling their rural housing business to Freedom Mortgage in an attempt to simplify their mortgage business. Full article can be found at JPMorgan sells USDA business to Freedom Mortgage
With increased liability and enforcement by the Consumer Financial Protection Bureau, TRID is beginning to have a negative impact on the secondary market. Investors are cautious and rejecting loans in the post TRID world. Below is a list of some most common reasons loans are being rejected … Continue reading
41% of mortgage lenders reported that they are not ready for the TRID August 1, 2015 deadline. The figure is a result of a recent survey conducted by Capsilon Corp. at the recent Mortgage Bankers Association’s National Technology in Mortgage … Continue reading
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 … Continue reading
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
Home lending set to bounce back in 2015
The Consumer Financial Protection Bureau’s final rule for new integrated mortgage disclosures doesn’t simply combine two disclosures. It merges to federal regulations as well. The new Loan Estimate and Closing Disclosure, which go into effect Aug. 1, 2015, will require … Continue reading