In this seventh and final installment in my series about the big changes that have followed the mortgage meltdown, I’ll discuss the “Know Before You Owe” Law, also known as TRID.   In the real estate industry, the “Know Before You Owe” Law is also known by the name “TRID,” which stands for “TILA-RESPA Integrated […]

Welcome to part six of my seven-part series about the big changes that have happened since the mortgage meltdown! Today I’ll discuss the Ability to Repay Law and the Qualified Mortgage Rule. Giving loans to people without validating their ability to repay them is called “blind lending,” and this partially contributed to the 2008 market […]

In today’s fifth installment in my seven-part series on what changed after the mortgage meltdown, I’ll focus on the Anti-Steering Safe Harbor Law.   When you and I work with a mortgage broker, the broker has the ability to shop a wide array of choices; some will have multiple lenders to select from. However, many […]

The Dodd-Frank Act ensures that loan officers can’t ever earn any more or less money by selling a specific loan.   It’s time for section four of our seven-part series talking about reform and mortgages. Specifically, today we’re going to talk about how lenders and loan officers get paid. In the past, loan officers and lenders […]

The Dodd-Frank Act protects buyers from loan adjustment fees.   If you’re gearing up to buy a home, what is your loan really going to cost you? In the past, lenders were required to give buyers a good-faith estimate, but these weren’t very accurate. In fact, if you bought a home before the economic crash, […]