Trends in FHA & VA; Agency/Lender Changes; Note on Improving Borrower Profiles

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Posted To: Pipeline Press

I asked my cat Myrtle for her comments on the proposed TRID changes. (Blank stare.“Myrtle, make up your mind – in or out!”) I did, however, receive this note from a veteran broker regarding the changes. “Every comment I read online basically said this is onerous or worse . I didn’t go through all of them but did not see one in favor of TRID. Everyone should express their opinion even if it’s only 2-3 lines . (One can read the comments in the right column.) The three-day rule is a joke on refis although for purchases I can understand their reasoning – but not the practicality. If the borrower has been properly educated they should not have any surprises.” Frankly I have a hard time keeping up with all the lender & investor changes in FHA & VA lending. Lenders…(read more)

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