Member Resources

CFPB (Consumer Financial Protection Bureau) Takes First Steps Toward Greater Clarity on TRID (TILA-RESPA Integrated Disclosure.) Although the CFPB will not delay implementing the complex TRID requirements that go into effect August 1, but there will be a good faith enforcement grace period that both the mortgage industry and a bipartisan coalition in Congress have asked for.

SAMCAR's trip to the NAR Legislative Meeting in Washington, D.C. was very productive. Learn more about the sessions your leaders attended in D.C.

The PRDS Forms Committee has taken the task to update the San Mateo-Santa Clara Advisory. The draft is the redline showing the new language and language either has been deleted or moved to another section.

The introduction of the Loan Estimate and the Closing Disclosure forms is right around the corner. The new forms are designed to aid the consumer in comparison shopping, improve consumer understanding and prevent surprises at the closing table, but it's possible that the new forms may initially create delays in closing.

Fannie Mae recently announced a new online home buyer education course, which allows first-time home buyers to receive up to three percent of the purchase price in closing cost assistance toward the purchase of a HomePath property upon successful completion. Fannie Mae also will reimburse the $75 cost of the home buyer education course at the time of closing.

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