TILA-RESPA Integrated Disclosures Rule Explained
Wednesday, October 29
TILA-RESPA ExplainedSections 1098 and 1100A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) direct the CFPB to publish rules and forms that combine certain disclosures that consumers receive when applying for and closing on a mortgage...
Insurable Value
Tuesday, October 28
Insurable Value – “The cost of total replacement of destructible improvements to a property; may be based on replacement cost rather than market value”When it comes to real estate appraisals, property valuation or land valuation is the process of valuing real property. The value usually sought is...
VA Borrowers Leaving FHA; Small Lenders & Mortgage insurers Benefit
Tuesday, October 28
VA Lending Rising, Borrowers Leaving FHA; Small Lenders & Mortgage Insurers BenefitingCurrently, veterans are the fastest growing part of the housing market, and US officials are urging private insurers to guarantee mortgages for them. VA loans have risen to $26.5 billion or 9 percent of mort...
Buyback Rules Clarified By FHFA
Thursday, October 23
Americans are currently experiencing the tightest credit market in 16 years, which lenders are blaming on penalties from being forced to 'buyback' loans they were issued based on false or inaccurate information. The US-backed companies, Fannie Mae and Freddie Mac, buy mortgages and pac...