The Accurate Title Group LLC (ATG) has announced the release of its TAG Good Faith Estimate Calculator (TAG GFE). This new product comes in response to the Real Estate Settlement Procedures Act (RESPA) and its revisions to the Good Faith Estimate (GFE) and HUD-1 Settlement Statement. The TAG GFE provides instant, accurate calculations for purchase, refinance and home equity transactions in all 50 states and all counties for title insurance premium, endorsements, CPL fees, search, closing fees, recording costs and transfer taxes.Read more

According to their company overview, Google's mission is “To organize the world's information and make it universally accessible and useful.”

With a commitment to provide its users with the most relevant search results in the shortest amount of time, Google's new Mortgage Rate Quote Comparison Ad Campaign appears to be well-positioned (pun intended) in light of the new Good Faith Estimate (GFE), encouraging borrowers to shop interest rates.Read more

National Mortgage Professional Magazine recently had an opportunity to chat with David H. Stevens, Assistant Secretary for Housing at the U.S. Department of Housing & Urban Development (HUD), and 27th Commissioner of the Federal Housing Administration (FHA).Read more

a la mode inc., the dominant provider of appraisal-related technology and services to the mortgage industry, today released the first public edition of The Appraisal Fee Reference (AFR). The AFR is the authoritative national analysis of independent appraisal fees, and is just one of the monthly data sets published as part of a la mode's Appraisal Industry Analytics practice.Read more

In 2008, the U.S. Department of Housing & Urban Development (HUD) issued both technical and substantive amendments to the rule that implements the Real Estate Settlement Procedures Act (RESPA).¹ The technical changes took effect on Jan. 16, 2009 and substantive changes have taken effect on Jan. 1, 2010. Last month, I provided a brief analysis of the new Good Faith Estimate (GFE).² In this article, I will offer some procedural guidance that incorporates several substantive changes that took effect on Jan.Read more

The new Real Estate Settlement Procedures Act (RESPA) rule and Good Faith Estimate (GFE) has changed the entire sales process for our $2 trillion per year mortgage industry. What if you could transform industry chaos into your secret weapon to crush the competition and make 2010 your best year ever? Here are three strategies to help you do just that:Read more

The year 2010 brings many regulatory compliance changes that will require careful planning, timely implementation and ongoing training to all individuals involved in the loan flow process. Although some effective dates have already occurred, the actual implementation of these requirements has placed greater burden on lenders to be sure of functionality, and especially training. Proper risk management is best combined with appropriate instructional reviews.Read more

PClender.com Inc. has reflected on the successful rollout of the new RESPA-required Good Faith Estimate (GFE) disclosure and HUD-1 settlement statement in its flagship loan origination
system, InHouse Mortgage, well in advance of the Jan. 1, 2010 deadline.With thousands of loans already originated on its platform using the new documents, the company has received positive feedback from its customers and their secondary market investors.Read more

The Federal Housing Administration’s Mortgagee Review Board (MRB) has announced that it is immediately and permanently withdrawing the FHA approval of three mortgage lenders and is suspending a fourth. The MRB withdrew the FHA approval of Strategic Mortgage Corporation (Strategic), ProMortgage Inc., and Americare Investment Group Inc. (doing business as Premier Capital Lending. Additionally, the MRB has suspended the FHA approval of Home Mortgage Inc. (HMI) of Burr Ridge, Ill.Read more

Credit Plus Inc. has announced that it will offer a single-price credit report, the price of which will be based upon a lender’s business model. The new pricing option will assist lenders and mortgage brokers in achieving compliance with regulatory changes, effective Jan. 1, 2010, that were made to the Real Estate Settlement Procedures Act (RESPA) by the U.S. Department of Housing & Urban Development (HUD).Read more