Wells exiting MSAs; 'I think it's the beginning of the end for MSAs'
Wells Fargo announced that it will exit all its marketing services agreements (MSA) with real estate professionals and builders, beginning Aug. 1, over a period of 90 days. The lender cited uncertainty surrounding regulatory oversight of MSAs as a prime reason behind the decision.
MBA says lenders still waiting for TRID software
Governmental Affairs, Technology, The Road to Oct. 3
A recent informal survey by the Mortgage Bankers Association showed that as summer began, two-thirds of lenders still were waiting for code or software from vendors. What should lenders who are behind do? What stories can vendors share to make their voices heard at the Consumer Financial Protection Bureau? Read on for the details.
Old Republic reports ‘best quarterly profit ever’
Old Republic International Corp. reported its earnings for the second quarter of 2015 and half year results. Old Republic Title Insurance Companies Chairman and CEO Rande Yeager said the title segment recorded its best quarterly profit ever. Keep reading to learn more.
First American reports increased commercial revenue
First American announced financial results for the second quarter. CEO Dennis Gilmore said the company’s strong results were driven by a healthy spring selling season, continued growth in its commercial business and elevated refinance activity. Keep reading to learn more.
Breaking News: CFPB finalizes TRID date
Governmental Affairs, The Road to Oct. 3
The Consumer Financial Protection Bureau (CFPB) issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule (TRID). The bureau issued the change to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until Aug. 15, at the earliest. Keep reading to learn more.
CFPB lieutenant to step down
The CFPB’s deputy director and SEFL associate director announced he is stepping down from his position to explore opportunities closer to home. He said he’s missed too many class plays, teacher conference meetings and little league games. Keep reading to learn more.