Author Archive

Applications for Purchase Mortgages

Applications for purchase mortgages rose 4.6 percent for the week ending January 22nd after a 1.6 percent decline in the prior week. Despite recent volatility, the 4-week moving average remains 21.3 percent stronger than the same time last year....

Sales Normalize, but TRID Lingers

While final sales stumbled in November, foot traffic and pending home sales suggested strength. Existing home sales have since recovered. The main impact of TRID on final sales has been to add several days to the settlement process, shifting...

Veteran Ownership Outpaces Non-Veterans

Historically, the homeownership rate for veterans of the United States military has outpaced that of non-veterans. At the peak of the market in 2006, the ownership rate for veterans was 79.5 percent[1], 12.3 percentage points higher than that of...

TRID: Adding Time and Costs

The first effects of the new Know Before You Owe or TILA RESPA Integrated Documentation (TRID) rules are now measurable. The changes created some confusion among lenders and closing agents and the average time-to-close has risen as a result....

Buffers for TRID’s Learning Curve

The new Know Before You Owe or “TRID” closing process could help consumers, but it could also create issues for consumers in the short-term. According to the 3rd Quarter Survey of Mortgage Originators, lenders are recommending longer rate locks...