Google's Mortgage Investment; Bank M&A; Hedging Servicing?

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Posted To: Pipeline Press

The FDIC has updated the Compliance Examination Manual to include examination procedures for TRID in order to allow financial institutions a better understanding of what areas of TRID the FDIC will focus on as part of the examination process. Updates include replacing the GFE, HUD-1 Settlement Statement and TIL disclosures with the Loan Estimate and Closing Disclosure, an alternative definition has been provided for the term "small servicer" and requiring a limited time period in which to review a transaction and "cure" excess points and fees. The number of banks in this country continues to decline through M&A for various reasons - but basically it is darned expensive to run a bank or mortgage bank these days. And plenty of owners are aging and tired of the fight. National Bank of Commerce...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/07102015-hedging-servicing.aspx

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