Tag: value proposition
If you’re a part of the mortgage industry right now (especially on the settlement services side), you’re aware that the Consumer Financial Protection Bureau has proposed yet another “simplification” to the HUD-1, somehow incorporating the Truth in Lending statement. I’m not a title attorney, but even I know that you may want to consult with one or get up to speed quickly if this is the first you’ve heard of the proposal. Big change (think about the last form change, and now add teeth to it) is coming. Again. more
This week, I’m going to overstep my bounds a little bit. That’s ok, I feel very strongly about this. Plus, I don’t work for the CFPB (in theory, they work for me, right?). more
We do this from time to time in the settlement services industry. A negative article runs in INSERT YOUR FAVORITE MAINSTREAM, CORPORATE-OWNED PUBLICATION HERE which glibly mentions the surprise of a settlement services fee, the injustice of a HUD-1 which looks little like the GFE provided weeks ago or the poor attitude of the closer at the table. Suddenly, a few who don’t actually do real closings spring up, screaming (with lots of exclamation points, of course) “IT’s TIME TO ENGAGE THE BORROWER.” more