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  • Richard Vetstein

    Are they announcing the new rules and final disclosures on TILA and HUD-1 forms?

  • Judy Judson Geiger

    Yes that’s right Richard

  • Diann Bertsch

    Can anyone see the Livestream? All I see is a black screen.

  • Shelly Molina

    Where can I find an examle of thenew forms/disclosures?

  • Sue

    we are unable to hear the podcast. Will there be another stream, or will it be available later

  • AmOne

    Is the livestream being archived so it can be watched again?

  • Michael J. Belle

    Who will be preparing the Closing statement, the bank or the closing agent /attorney

  • Amy Tierce

    APR is the most confusing and complicated shopping comparison tool there is!

  • Steve J Squeo

    For the independent title agents out there wanting more information about the TIL/HUD combined disclosure. You can get more information at the National Association of Independent Land Title Agents (NAILTA) website where there is a entire section devoted to the CFPB.

  • C. Jones

    people on panel need to be speaking into their mics so we can actually HEAR them!!!

  • sheldon

    much of this seems to assume that there is no seller and more importantly, no contract. the implication is that the buyer can walk away o postpone settlement three days before or at the table based on the relationship they have with their lender. Representing the seller, I’m not suing the buyers lender for breech of contract I assure you.

  • Karen

    Did they expand the Exceptions to the restarting the 3 day review process beyond the $100.00 limit, seller and buyer walk thru negotiations, etc. that was in the initial proposal?

  • Josie Casales

    I work at a title company and want to know if this is going to assist in Lender’s getting lender’s packages to the title companies AT LEAST 3 days prior to closing. This way the buyer has enough time to compare the Final HUD against their GFE and address any questions they may have with the lender prior to closing. Please let me know. Thanks

  • Steve J Squeo

    Why is there no mention that the buyer should be represented by legal counsel?

  • Ruthie Furst

    Unfortunately the majority of these comments relate solely to non escrow states. There are 11 escrow states, California being the largest and most highly regulated. Our escrow officers when sitting before a buyer/borrower, go through each & every loan document and explain what they are. Technical questions are referred to the lender via immediate telephone. Settlement service agents are being dragged into this and states such as California wherein the majority of escrow companies are small business owned, managed and staffed by women. This appears to be the lenders trying to control the entire process. This is only the beginning of more control by those NOT in the best interest of the consumer.

  • Janie

    Another mystery is the whole FICO score process and the weight with which it is considered for consumers seeking loans. Considering the fact that it is used as a standard for successfully or unsuccessfully securing a mortgage or other type of loan, why not standardize and regulate the scoring process for this as well. As it stands, consumers face scrutiny and when seeking out their own score, are baraged by varying types and levels of FICO scores. As a result, the consumer really doesn’t know where they stand. In perusing the online options to secure your FICO score, one is funnelled into many many competing ghost sites that mimic the actual FICO. All sites charge a fee for access to ones own information. I would like to suggest that this information be made easily accessible and free via a government access link so that the consumer can at least trust that the information they are getting is valid and that the personal confidential information they (the consumer is inputing in order to gain access to their own FICO score, is indeed secured and not being acquired by scam artists who may use the consumer info. to illegally degraud the consumer.

  • Anonymous

    As an owner of a small title agency, I ABSOLUTELY agree with Bernie that it is we who pay the price for the numerous mistakes and inefficiencies stemming from the government and subsequently the Lenders. My title business is in extreme jeopardy based on the rules and regulations being implemented by the CFPB. While I understand the need for more regulation, the CFPB is just another example of how the government operates in only two modes, complacency or crisis.

  • Josie Casales

    I have lost the connection and would like to continue. it is showing that it is “off air”

  • TGG

    what happened?

  • Steve J Squeo

    Why hasn’t anyone mentioned the eight hundred pound gorilla in the room. Affiliated Business Arrangements? Consumers should avoid any lender or real estate agent that has an affiliation with a firm that has a substantial financial interest in the outcome of the transaction.

    If your lender or realtor is asking you to use their “in-house” title company you may want to fully understand the ramifications and that they most likely are participating in an Affiliated Business Arrangement. These are agreements between title agencies, real estate agents, builders and lenders to share the profits from your transaction! They are very bad for the consumer. They lock-in business, restrict consumer choice, hide fees and transfer secret profits from one party to another. This practice is a conflict of interest.

    According to Douglas R. Miller, Executive Director at Consumer Advocates in American Real Estate (CAARE):

    “…giving fiduciaries control to steer clients into AfBAs results in over-priced ancillary services. Self-dealing is probably the worst breech of fiduciary duty. To exploit a client’s vulnerabilities or alter the advice given to a client in exchange for something of value is considered such an abominable thing that most states construe it as a crime. It is a form of fraud, theft, commercial bribery and a terrible violation of trust”.

    We at Eagle Land Title Agency, a proud charter member of the Ohio Association of Independent Title Agents and the National Association of Independent Land Title Agents believe that truly independent title agencies make insurance costs more competitive, help lower insurance claims and protect the consumer from costly real estate related litigation. We believe in the free market and the economic foundations on which our country was built.

  • Rachel C

    When and how will we be able to watch a recording of this session again?

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