Mortgage originations continue strong pace

Implementation of the TILA-RESPA Final Rule and Amendments on October 3, 2015, does not seem to have significantly impacted the pace of mortgage originations in late 2015. Some anticipated that new disclosure requirements would place additional burdens on their employees and processes and lead to a slowdown in originations. However, if they were prepared with up–to-date systems and forms and trained staff, they may have easily transitioned into the new process.

On the consumer side, the new Consumer Financial Protection Bureau (CFPB) requirement may be empowering consumers to pursue home ownership and refinancing opportunities because they have increased confidence in understanding their loan terms and obligations. Coupled with a recovering housing market — the Case-Shiller index recently reported that home prices have risen by nearly 46 percent since the late 2011 bottom — things are looking up for mortgage lenders.

Mortgage originations continue strong pace

 

 

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