Small Balance Commercial Webinar; Cost of TRID and Impact on Appraisers

Posted To: Pipeline Press

Lenders across the nation are switching to potlucks at the end of the month instead of catered lunches. Why? A new survey of mortgage lenders by the MBA finds loan production expenses have climbed 9.4% to $7,747 per loan vs. $7,080 before the TRID requirement went into effect. I just made up the tidbit about the lunches, and everyone knows that these costs are passed on to borrowers, but still... It certainly helps explain why there is less refinancing in a similar rate environment. But STRATMOR has a different take on the increase in cost - see below. STRATMOR released select findings from its TRID - Impact and Experience Spotlight Survey. It has impacted not only the mortgage lender but also the borrowers it was created to assist. Dr. Matt Lind writes, "Based on the results of STRATMOR's...(read more)

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from Mortgage News Daily http://ift.tt/1q2Dnwt