RESPA/TILA Webinar

A NAR webinar that covers changes to Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act is available online. The new rule combines the Good Faith Estimate with the Truth in Lending (TIL) disclosure now called the “loan estimate” and theContinue reading “RESPA/TILA Webinar”

Impact of the QM Rule

The qualified mortgage (QM) rule was implemented in January of 2014. It is the first of two rules that came from the Dodd–Frank Wall Street Reform and Consumer Protection Act that will impact the housing market. This law is intended to protect consumers by strengthening underwriting standards, but some have argued that the rules willContinue reading “Impact of the QM Rule”

Industry and Consumer Groups Call for Broad Qualified Mortgage

NAR spearheaded a 33-member coalition in sending a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray calling for a broadly defined Qualified Mortgage (QM) under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Several meetings with CFPB led NAR and others to believe that CFPB is considering a narrow QM more inContinue reading “Industry and Consumer Groups Call for Broad Qualified Mortgage”