Mortgages

What Should a Realtor Do When a Buyer's Mortgage Is Approved from an Online Source

Benefits of local vs online mortgage lenders

More and more home buyers these days have their mortgages approved from online sources. Let's say you are a real estate agent and your buyer comes to you saying his or her mortgage is approved from an online sources. What do you tell them as a Realtor? Do you suggest they get approved again locally?

TRID: How The TILA-RESPA Integrated Disclosure Works

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

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.

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