quicken 2017 home and business freezes in the home page

#QUICKEN 2017 HOME AND BUSINESS FREEZES IN THE HOME PAGE VERIFICATION#

#QUICKEN 2017 HOME AND BUSINESS FREEZES IN THE HOME PAGE VERIFICATION#

reported in December, by way of its Loan Application Defect Index, that the rate of defects in mortgage applications had decreased considerably during 2016 as a result of lenders using automated verification tools.

As just one small example of how mortgage software solutions are now revolutionizing the industry, First American Financial Corp. Helping lenders gain confidence in their ability to handle both of these complex regulations were the efforts of the mortgage software vendor community, which made great strides in developing innovative new tools to make mortgage origination faster, more efficient and more compliant. Interestingly, by late 2016, most lenders seemed to feel they had TRID relatively under control (aside from the fact that some investors still feel unsure about the safety of TRID loans), and further, most seemed confident in their ability to meet the new reporting requirements under HMDA, as well.

What a disruptive year 2016 was for the mortgage lending industry.ĭuring the first half of the year, most lenders were still dealing with the aftermath of implementing the TILA-RESPA Integrated Disclosures (TRID) rule, with all its complexity and brutal operational impact, whereas in the second half, they were more focused on preparing for the equally daunting new reporting requirements under the Home Mortgage Disclosure Act (HMDA), which takes effect January 2018.

Quicken 2017 home and business freezes in the home page