Home >> Media >> The MReport Webcast: Thursday 6/11/2015
Print This Post Print This Post

The MReport Webcast: Thursday 6/11/2015

Despite the recent announcement from the Consumer Financial Protection Bureau to provide a grace period for servicers attempting to comply in good faith with the TILA-RESPA Integrated Disclosure requirements that are scheduled to go into effect August 1, lingering TRID concerns remain. The Association of Mortgage Professionals and other housing associations, requested today in a letter that the CFPB implement a hold-harmless period on TRID enforcement.

The request is supported by NAMB and numerous other housing industry associations, H.R. 2213, and is sponsored by Congressman Steve Pearce, a Republican from New Mexico. It will provide a reasonable hold-harmless period for enforcement of the of the CFPB’s TRID regulation for those that make good-faith efforts to comply. A hold-harmless period will help ensure that consumers’ real estate closings are not affected by the new regulation.

 

Ocwen Financial Corporation announced that it will use payments connected with previous mortgage servicing rights’ sales to pay down $53.2 million of its senior secured term loan, according to the company’s recent 8-K filing with the Securities and Exchange Commission. As of now, Ocwen still has approximately 939 point 4 million dollars left outstanding under its senior secured term loan. Embarking on the journey to transfer its MSRs at the end of last year, Ocwen has been busy selling and paying off the MSRs.

About Author: Jordan Funderburk

x

Check Also

The Week Ahead: Balancing the Economy and Housing

An upcoming webinar will feature Patrick F. Stone, and Economist Dr. Bill Conerly analyzing the economy and its impact on housing, and provide predictions on the upcoming quarter and the remainder of 2023.