Recognizing Diversity in Mortgage Lending


This month is Hispanic Heritage Month.  And to mark the start, earlier this week a major mortgage lender announced a pledge to originate $125 billion in loans over the next ten years, to assist in the National Association of Hispanic Real Estate Professionals’ (NAHREP) Hispanic Wealth Project. This announcement is timely, given that MBA and other stakeholders in the real estate finance industry have worked hard as of late to recognize the growing number of minorities, and in particular Hispanics, entering the U.S. housing market.

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Know Before You Owe

I know that everyone in the mortgage industry is focused on the new TILA RESPA Integrated Disclosure (TRID) regulations, also known as Know Before You Owe, that will go into effect on October 3, 2015. Rightfully so. The Know Before You Owe regulations, and the accompanying new forms that borrowers will get at application and closing, will undoubtedly have a significant impact on the home buying process for consumers and lenders alike.

Because these regulations will require new mortgage disclosure forms and will change the way that real estate transactions are processed and closed, MBA created a set of resources designed to assist consumers and the broader real estate community in plain, easy-to-understand language, to educate homebuyers and mortgage professionals on the upcoming changes.

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