CFPB Director Richard Cordray squashed rumors earlier this week of a possible delay in the August 1, 2015 implementation of the TILA-RESPA Integrated Disclosure (TRID) rule.
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Category Archives: Finance
Bill to Provide Temporary Legal Protection from TRID
In an effort to protect those affected by the upcoming implementation of the TILA-RESPA Integrated Disclosure (TRID), Congressman Steve Pearce (R-NM) and Congressman Brad Sherman (D-CA) have introduced a bill that will provide temporary legal protection.
Inside Look: EB-5 Visas for Immigrant Investors
Marcelle Poirier is an attorney who decided to make her American dream happen. She emigrated to the U.S. from Canada and lives in the multicultural city of Miami. She earned her juris doctorate from the University of Miami in 1995 and is a member of the state and federal bar for the southern district of Florida, in addition to the eleventh circuit court of appeals.
The Reverse Mortgage that Will Save Seniors Money
Starting May 1, there will be a new way for seniors to attain reverse mortgages from what is called a Caregiver Loan. This loan will allow adult children or grandchildren of seniors to pool resources to provide a flexible line of credit at interest rates much lower than commercial reverse-mortgage lenders charge.
$140 Million Settlement Has Ocwen & Assurant Pay Up
Riddled with countless financial setbacks, Ocwen was dealt another heavy blow with a $140 million class action settlement that must be paid by both Ocwen and Assurant Inc. to homeowners who were given inflated premiums for force-placed insurance.
Deadline Approaches for CFPB Director’s Response to TRID Delay Request
The deadline for CFPB Director Richard Cordray to respond to a letter proposing a delay in the implementation of the new TILA-RESPA rule is rapidly approaching. The deadline—Friday, April 17—will be closely followed by the mortgage industry in particular.
U.S. Supreme Court Decisions Affecting Housing Professionals
The latest cases to reach the Supreme Court could change how Chapter 7 bankruptcy affects homeowners. Another issue that parallels this one is mortgage-backed securities, which affected investors during the 2008 crash.
Ocwen in Hot Water Once Again
Ocwen Financial Corp. released a statement today that it will be selling $25 billion in residential mortgage servicing rights. These loans are held by Fannie Mae and Freddie Mac and are being sold to Nationstar Mortgage Holdings—a mortgage servicer located in Dallas, Texas.
Freddie Mac Sells $1 Billion In Delinquent Loans
In early February, we wrote about the $410 million of delinquent mortgage loans auctioned off by Freddie Mac. Well now Freddie Mac is at it again, this time selling $1 billion in delinquent loans. Similar to the previously auctioned loans, the delinquent loans are divided into three pools.
Reaction To The House Republican 2016 Proposed Budget
As the House Republican 2016 proposed budget was unveiled on Tuesday, there has been a great deal of opposition as well as backing for it by different parties. Depending upon whether you are a Democrat or a Republican, your feelings and beliefs about the new proposed budget will differ greatly.