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Blog
Do Creditors Have To Approve TRID Loans In 3 Days?
http://videotap.wistia.com/medias/v0yr5ldf9z?embedType=async&videoFoam=true&videoWidth=640 If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within 3 business days. If they determine that your application...
Can Creditors Collect Information Beyond The 6 Required Pieces?
http://videotap.wistia.com/medias/5afbv516il?embedType=async&videoFoam=true&videoWidth=640 In addition to the required pieces: Name Income Social Security Number Property Address Estimated Property Value Mortgage Amount Sought a creditor may collect whatever...
What 6 Pieces of Information Make A TRID Loan Application?
http://videotap.wistia.com/medias/jam9vg2237?embedType=async&videoFoam=true&videoWidth=640 Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount sought constitutes a valid...
What Disclosures Are Used For Loans Not Covered By TRID?
http://videotap.wistia.com/medias/9qnle38wfj?embedType=async&videoFoam=true&videoWidth=640 Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached...
What Kinds Of Loans Do TRID Disclosures Cover?
http://videotap.wistia.com/medias/v90zfpn83g?embedType=async&videoFoam=true&videoWidth=640 TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity...
What Do Lenders Have To Tell You About Your Real Estate Loan?
http://videotap.wistia.com/medias/rcrgo5207y?embedType=async&videoFoam=true&videoWidth=640 Federal “disclosure” forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of Oct 1, 2015...
What Is Equity?
http://videotap.wistia.com/medias/3qe28e4js8?embedType=async&videoFoam=true&videoWidth=640 Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current...
What Are Real Estate Commissions?
http://videotap.wistia.com/medias/wb4lwoemt9?embedType=async&videoFoam=true&videoWidth=640 Like the video says - real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate...
What Is “Prime”?
http://videotap.wistia.com/medias/qbql0flc28?embedType=async&videoFoam=true&videoWidth=640 The Prime Lending Rate - sometimes just called “Prime” - is the interest rate that banks charge each other for overnight loans. Some consumer...
Closing Costs Explained Visually
http://videotap.wistia.com/medias/dfriyg6yox?embedType=async&videoFoam=true&videoWidth=640 Purchasing a home is exciting. Once escrow begins, the excitement can change to frustration, particularly if you are not ready for...