The overall critical defect rate for mortgage loans has been trending upward since Q3 2015, driven by a rise in the number of compliance-related defects. The reason for the upward trend is clear, according to one analyst.
Read More »LendingQB, IDS Utilize Latest MISMO Data Standard
IDS and LendingQB announced that they have successfully implemented the MISMO 3.3 data standard for document compliance, and are among the first mortgage vendors to do so.
Read More »Let the Comments on TRID Begin
The CFPB published its proposed updates to TRID on Monday, opening the 64-day comment period on the controversial mortgage disclosure rule.
Read More »TRID 2.0? CFPB Proposes Updates to the Rule
The CFPB made good on the promise it made in the spring regarding a proposal to update the Know Before You Owe Mortgage Rule.
Read More »OCC: Compliance Risk Remains High
The banks' regulator said that complying with TRID, which went into effect on October 3 last year, is still a challenge.
Read More »CFPB Plans Further Servicing Rules Updates
What updates did the Bureau announce to its mortgage servicing rules and TRID as part of the semiannual Spring 2016 Rulemaking Agenda?
Read More »Homebuyers Taking a Closer Look at Mortgage Disclosures
More borrowers are taking a closer look at their mortgage documents before it’s too late, and more agencies are helping these borrowers understand what they’re getting into, well before new federal guidelines go into effect this fall.
Read More »Congressman Calls for Regulatory Transparency from the CFPB
U.S. Rep. French Hill (R-Arkansas) said Monday that the Consumer Financial Protection Bureau (CFPB) needs to do a lot more to ensure the industry understand the new TRID-compliant ‘Know Before You Owe’ rules before they take effect.
Read More »TRID’s Mixed Reviews 6 Months Later
Many in the mortgage industry have complained of the complexity of implementing the rule and the difficulty of complying, despite the rule’s goal of making it easier on all parties involved to close a mortgage loan. But do homebuyers share these same sentiments?
Read More »Title Companies Navigate Murky TRID Waters
Lenders and servicers are not the only ones finding themselves wading through the murky waters of regulatory compliance. Recent rule changes germinating in the mortgage industry have shaken up business as usual at title and escrow companies. Editor's note: This select print feature appears in the May 2016 edition of MReport magazine.
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