Author Archive

Lenders Cautious on FHA’s Overtures to Expand Access to Lower Credit Borrowers

Access to credit has expanded in many ways over the last two years including to borrowers with higher debt-to-income ratios, lower down payments, and even some limited non-QM offerings. But access for borrowers with lower credit scores has shown...

Lenders Make Headway, Reducing Delays and Cancellations rom TRID

The lending industry has struggled with recent changes to the closing process. However, the 1st quarter Survey of Mortgage Originators shows clear improvements in handling the new regulations. The new Know Before You Owe or TILA RESPA Integrated Disclosures...

TRID: Setback in May

After steady improvements this spring, the average time-to-close, the time from contract to settlement, edged upward in May of 2016 relative to the same time a year earlier.  On average, sales took 3.6 days longer to close compared to...

Steady Progress on TRID

The average delay in time-to-close fell in April, marking the 4th consecutive month of improvement. On average, sales that closed in April took 3 days longer than the same time a year earlier. April’s reading is down from a...

Steady Improvement as TRID Effects Wane

Lenders appear to be making headway in the TRID environment. With the busy spring market underway, this trend bodes well for the looming surge in seasonal volumes. The average time-to-close was unchanged from February at 43.3. To adjust for...