Lenders could face tougher enforcement and higher penalties if they make errors on the new mortgage disclosure forms that are slated to go in effect next August.
A recent survey shows a very large number of mortgage lenders worry about loan quality and Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule compliance costs.
Technology companies such as Ellie Mae, which almost doubled its employees to 700 and saw its stock price reach a new high this year, are seizing an opportunity to transform how mortgages are made.
The Supreme Court is slated to hear arguments Tuesday in a case that could determine when and how borrowers are allowed to cancel their mortgages.
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