closing disclosure Archive

FHA Mortgage Insurance Premium Flash Survey

On January 10th, the FHA lowered its annual mortgage insurance premium (MIP) by 25 basis points. That decision was put on hold pending a review on January 21st. This alteration to the FHA’s fee structure was unique as it...

FHA Fee Reduction On Hold

On Friday, the new administration suspended a 25 basis point fee reduction that the past administration announced on the 9th of January. NAR research estimated that the fee reduction would have benefited 750,000 to 850,000 homebuyers in 2017 whose...

TRID: A Year Later

A year after implementation of the Know Before You Owe rule, many REALTORS® expressed both support, but also frustration. The TILA-RESPA Integrated Documentation (TRID) or Know Before You Owe rule went into effect on October 3rd 2015. In early...

Brexit: Lower Rates with Little Delays

Brexit, the vote by British citizens to leave the European Union, could have far reaching implications for international trade, but it could take several years to realize the full impact. In the near term, it means lower mortgage rates,...

Closing Documents Remain Elusive, but Change Coming

Lenders’ reluctance to share closing disclosures (CDs) with REALTORS® rose in the 2nd quarter of 2016 according to responses to NAR’s Survey of Mortgage Originators. Under the new Know Before You Owe or TRID rules, the HUD-1 closing form...