A former bank president has been convicted of multiple counts related to several multimillion-dollar fraud schemes
A state commerce department has slapped a company with a hefty fine and instructed it to lower rates by 43% after finding that it overcharged customers for mortgage insurance
The coming of new regulation never seems to end, and having an effective compliance management system has become an essential to running an effective organization in the industry.
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.
With only a few months left until implementation, a recent survey of mortgage executives shows very few are fully prepared for the regulation’s changes.
Recently, there has been speculation that a grace period may be given to the industry for the implementation of the TILA-RESPA Integrated Disclosure rules. Even though the industry has had nearly two years to make these adjustments, should we still get a grace period?
TRID is just the latest manifestation of a larger issue: when the regulatory environment is in a constant state of flux, how we can we make sure our employees stay up to date?
Gone are the days of making last minute changes to mortgages and experts at recent panel in New Jersey say the mortgage industry is still unprepared for the rule's major changes.