August 27, 2014

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CFPB Announces Companies Who Will Participate in E-closing Pilot Program

Last week, the Consumer Financial Protection Bureau (CFPB) announced the companies that were selected to participate in its e-closing pilot program. As we previously reported, this program was announced in April as a way to test new technology's ability to improve and mitigate issues during closings for the consumer. No title companies were selected to participate in the e-closing pilot program, however seven lenders and five vendors were. Read more about who was selected and how the process will work here.

Survey Shows Average Mortgage Closing Time Hits Three-Year Low

National Mortgage News | August 25, 2014
Lenders are closing loan applications more quickly in July than they were three years ago, according to an Ellie Mae report. The Pleasanton, Calif.-based technology company's July Origination Insight Report, which analyzes mortgage files processed with its loan origination system, showed loans that closed during the month of July took an average of 37 days to go from application to funding. That's the shortest closing time since Ellie Mae began tracking the metric in August 2011. Read More »

Freddie Mac: 3 Reasons Lending Will Hit Lows Not Seen Since 2000

HousingWire | August 22, 2014
Mortgage interest rates remain near historic lows and this past week they hit the lowest level of 2014. At this pace, originations will hit a 14-year low of $1.14 trillion for the year. While housing price appreciation has slowed, it has continued, and buying a home remains affordable in most markets. Most notably, buying is cheaper than renting in most every major market in America. Read More »

Upcoming Hot Topic Webinars

Recent Texas Title Insurance and Escrow Cases
Thursday, September 18 | 10:30 - 11:30 a.m. CDT
Presented by:
Jerel J. Hill, Attorney at Law
Richard Melamed, Attorney at Law
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Are You Afraid of (the) Commitment?
Tuesday, September 23 | 10:30 - 11:30 a.m. CDT
Presented by:
Stephen R. Streiff, Southwest Legal Division Manager, Old Republic National Title Insurance Company
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