The mortgage company said the errors CFPB found in its 2012-2014 HMDA data were simply “technical data issues”
The CFPB has levied the largest-ever fine for an HMDA violation against the lender
The House has scheduled a May 14 hearing in which it's likely they'll call for a delay in the enforcement of new mortgage regulations
Rather than viewing TRID as a hindrance, we can instead see it as motivation to improve our operational efficiencies
The mortgage market has seen enormous technological changes in the last few years. But these changes haven't necessarily improved the often antiquated practices the industry uses to connect with consumers
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.