TRID Bedeviling Primary and Secondary Markets, Impacting Consumers

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Posted To: Pipeline Press

What are lenders talking about? Besides the CEO of Wells Fargo saying in a recent speech that he sees, "the wealth and investment management business as the biggest growth opportunity for the bank," pointing out, for the most part, that is one advantage that banks have over mortgage banks, the talk is about TRID and the CFPB . Lots more below! Remember when it was called RESPA-TILA? And it was swept up into the "Know Before You Owe" initiative - a well-intentioned move by the CFPB. And then TILA-RESPA so we could call it "TRID"? And then when the CFPB delayed it for two months because most lenders & vendors said they weren't ready, and even the ones that claimed they were ready really weren't? We are two and a half months into it and the CFPB is finding out that it is tough to change a...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/12172015-trid-problems.aspx

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