canstockphoto2367329I am so tired of TRID. I can’t wait until October 3rd though I realize it will still be the topic of the day
every day for awhile. I wonder what the world will be like
when we no longer have to prepare for TRID.

Lots of mortgage writers will probably become unemployed as they won’t have as much to write about in the mortgage world.

Some of them maybe will go to law school and join the squadron of attorneys at the CFPB to write the next new regulation and some will become plaintiff lawyers to sue lenders for TRID or ATR/QM violations.

But what will Credit Unions do?


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Where Will You Live in the Home Buying Eco-System?

canstockphoto1492375You cannot read a mortgage publication or email newsletter without being overwhelmed by information about TRID. If I’m counting right, it’s only 11 days away. Are you ready? If you’ve been wondering where the blog has been the last few weeks, it’s because my computer became buried under the TRID regulation and its commentary, the new disclosure form and all the writing about TRID. (Actually, I’ve just been busy and was at the ACUMA Conference – more to follow on that in some later posts).

I thought this article, which is short and sweet, was a good one. Mark McElroy gets right to the point about how TRID is Redefining the Mortgage Process. And better yet it reinforces what I’ve been saying about TRID/KBYO all along. It’s not just a disclosure regulation. It’s a regulation that changes (redefines) the mortgage process. And to be successful in this new world, you MUST communicate with the member/borrower, Realtor and title company.

It’s a great opportunity to be memberlicious…………..or to look like a rat.

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I Hope They Are Ready

canstockphoto12511494Well after the excitement of reading about how ready I am for the new Fannie Mae HomeReady product, I have to say that I hope Realtors are ready for TRID/KBYO on October 3rd.

There’s been a lot written lately that Realtors just are not ready. Here’s one example from Origination News.  And this could be bad news for Credit Unions wanting to grow their purchase money business and be memberlicious.

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I’m Ready NOW

canstockphoto0439392Yesterday Fannie Mae made a big announcement about a new product called “HomeReady”. You can read a trade publication account on Housing Wire’s web site.

This sounds great for home buyers and Credit Unions. While Fannie release some highlights of the new product, the details will be coming in a few weeks. But I’m Ready NOW!……..

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The He-Man Woman Hater’s (Lending) Club

Ernie_Weckbaugh_with_Spanky_and_Alfalfa_in_the_OUR_GANG_ComediesWere you a fan of the Little Rascals growing up? I was. I remember Spanky, Alfalfa, Darla, Buckwheat and others. I don’t remember a lot of specific episodes, but I do recall a few including the He-Man Woman Haters Club. The boys being young and naive, established the club as a sort of boys brotherhood and anti-girl movement. It ends up failing because Alfalfa loves Darla.

Well the CEO of another Club – Lending Club – is talking about getting into the mortgage game. And while it may start small, it will likely have more success the He-Man Woman Hater’s Club.

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