The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
Zillow mortgages now also on Trulia…Housing starts lower than expected… Builder confidence rises… Apartment used in ‘Ghost’ goes on sale…
The final rule includes additional instructions for providing housing counselor information and features an online tool lenders can use.
The technological arms race for TRID could provide the originators and servicers of the mortgage industry with more innovation that will come from vendors refreshing their technologies.
Legislation critical to the mortgage industry went to the floor of the House of Representatives for debate Tuesday and it could ease some of the regulatory burdens.
In an effort to attract more first-time homebuyers, Fannie Mae has announced a 3% rebate program.
Both JPMorgan and Wells Fargo have posted mortgage profit gains during the first quarter after sharply cutting back on production over the last few years.