Mortgages

TRID: How The TILA-RESPA Integrated Disclosure Works

Sandra Visser's picture
TRID Mortgage Disclosure Form

I recently attended a seminar regarding TRID. That is the TILA-RESPA Integrated Disclosure. The basic premise is that the home buyer, now known as the Consumer, should “Know before you Owe.” The consumer has the opportunity to view the Loan Estimate (previously the Good Faith Estimate) before formally applying with a particular institution and paying an application fee. Ideally the consumer will have more opportunity to compare banks.

Realtors Don't See Banks Easing Mortgage Lending Standards

Armen Hareyan's picture
Mortgage Loan Standards

On Monday, Nov. 2 Reuters published a story, which said that Fed survey showed banks easing or lower mortgage lending standards for borrowers. I asked several fellow Realtors and mortgage lenders to see if they feel any easing or lowering of mortgage lending requirements for their clients and most of the answers were negative. Here is what they said.

Should I apply for a 15 or 30 year mortgage?

Dorie Dillard's picture
Mortgage broker discussin 15 or 30 year mortgage rates

Recently one of my clients asked me if they should apply for a 15 or 30 year mortgage. They’ve been advised by parents and co-workers that a 15 year mortgage is the way to go. They want a 15 year mortgage because it has a lower interest rate and their home would be paid off sooner. The only fly in the ointment is the payment will be higher than they want to pay each month.

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