I am pleased to introduce a new team member and also tell you about changes to the roles of three other team members. Rebecca Spencer joined our closing team as a Real Estate Closer at the end of January. Rebecca brings? twelve years of experience as a closer and funder with Caliber Home Loans and …
January 25, 2016 The volume of Monroe County sale transactions in 2015 represented the best showing for our market since 2007.? Mortgage volume, while solid, did not approach what was originated during the historic low interest rates of 2012 or the government induced borrowing of 2009. (see chart page 7)? Sales of properties marked as …
I want to introduce you to three new team members here at John Bethell Title At the end of October we welcomed Wendy Kitchel as our new Title Counsel. Wendy came to us after fourteen years with the law firm of Foutty & Foutty in Indianapolis where she specialized in representing lenders in mortgage foreclosures. …
November 19, 2015 At the end of October and into November we experienced our first closings under the new CFPB TRID disclosures.? More recent closings are happening smoother as everyone gets familiar with the changes. I thought it important to share with you my takeaways from these initial transactions. My first takeaway is being reminded …
WASHINGTON D.C. HUD?1 passed on to the Great Regulator in the Sky at 12:00 a.m., October 3, 2015. HUD?1 is survived by?Dodd?Frank, TRID, Loan Estimate and Closing Disclosure. The funeral and interment will be consummated?following a three day waiting period. Created in 1974, HUD?1 and its partner, Good Faith Estimate maintained a long and largely …
As we all make our final preparations for the post-Trid implementation world beginning October 3rd, lets pause a?moment and reflect upon the positive aspects of this change. {{crickets}} . . . . . . . . . Just kidding! Seriously, although there?re a lot of changes to deal with, and that?s always hard for people, …
We?re now less than two months from implementation of the Truth?In?Lending and RESPA integrated?disclosures (TRID). We?ve carefully studied the rule. We?ve carefully considered how this will affect our?processes. We?ve upgraded our software. We?ve tested our software. We?ve waited for a software patch?to fix the bugs. We?ve tested the software again. We?ve started training our team. …
July 27, 2015 We interrupt our regularly scheduled programing of compliance induced folderol for this important?message: People are actually buying and selling homes! In fact, they are buying and selling homes in?Monroe County at the fastest rate in seven years; a rate that is almost twenty percent better than the?second quarter of last year. The …
June 22, 2015 Over the last few weeks I?ve talked with lenders about the August (Now! Woo Hoo!) October 1st Truth-in-Lending/RESPA disclosure changes. I?m happy that there seems to be a consistency in the conclusions?that are being made about the best way to comply with the new rules. Every lender that I?ve talked with has …
May 15, 2015 The HUD-1 settlement statement serves two important purposes. One purpose is disclosing the actual?settlement costs to the buyer and seller. The other is functioning as a disbursement record for the?settlement agent. The disbursements on the HUD-1 must balance to the disbursements from the?settlements agent?s trust account. One of the less obvious differences …
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