Morning Briefing: Realtors praise extended deadline for TRID implementation

by Steve Randall22 Jul 2015
Realtors praise extended deadline for TRID implementation
The National Association of Realtors has applauded the CFPB’s decision to extend the TRID implementation deadline. A statement from NAR president Chris Polychron said: “NAR has worked hard to ensure our members have everything they need to comply with the rules while continuing the business of real estate without interruption. August is a busy time for realtors as home buying and selling picks up around the summer season. CFPB’s recognition of the challenge that an August implementation posed for the industry is a big win for realtors, for lenders, for consumers and for everyone involved. An October 3 implementation will help ensure that our industry has time to prepare for the changes ahead while helping consumers get to closing without delay.”
MBA chief blasts senate plan to tax homebuyers
The Senate’s transportation funding bill would extent the Freddie Mac and Fannie Mae guarantee fees to fund transport projects, meaning additional costs for homebuyers. The CEO of the Mortgage Bankers’ Association has blasted the plan saying: "Senators need to vote 'no' and go back to the drawing board.  Taxing homebuyers, which is the practical effect of increasing guarantee fees, to pay for unrelated government spending like this, is simply bad policy.  It's bad for borrowers, it's bad for the housing market and it's bad for the economy, just as all three are finally showing signs of recovering from the 2008 meltdown.”
Clients star in realtor’s billboard ads
Local clients will star in the billboard advertisements for California realtors Barbagelata Real Estate. The campaign will showcases local clients and their impact and influence on the community, highlighting their unique talents, careers or hobbies. Ella Reid, the Marketing Director at Barbagelata commented: “Our clients are more than just a number. We hold them in the highest regard and this is our way of saying thank you for being a true SF Original.” The campaign can be seen at


Should CFPB have more supervision over credit agencies?