Tag Archives: Lenders

Since the initial implementation of these rules, the CFPB has made several moves to expand the definitions of “small creditor” and “rural area,” but before the HELP Act, smaller lenders were only eligible for special provisions if more than half its loans were in rural or underserved areas.

Customer satisfaction regarding TRID has risen among borrowers—coinciding extremely closely to the rise in the number of borrowers who reported they’d been contacted (as per TRID guidelines) by their lenders before closing.

Bank of America's Affordable Loan Solution program provides an alternative for low-income borrower but despite being an innovative solution to market demand, industry analysts feel it does not provide enough competition to substitute the FHA completely.

The FHA hopes this added clarity will appease banks and large lenders that have pulled out of the FHA loan program or implemented harsher credit standards fearing lawsuits and penalties over troubled loans.

First-time homebuyers, including millennials, are slowly but surely making their way into the housing market and lenders need to be prepared to grab their attention and keep it.

CFPB Director Richard Cordray called attention to the mortgage industry, particularly lenders, in a speech on Wednesday, where he highlighted some of the progress and pitfalls that the housing market faces.

Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Louis Manetti of Codilis & Associates.

Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Roy Diaz of Fort Lauderdale, Florida-based SHD Legal Group.

The Office of Inspector General for the U.S. Department of Housing and Urban Development (HUD OIG) announced that civil investigations of some of the Federal Housing Administration's (FHA) largest lenders have resulted in significant settlements in the last year.