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What Disclosures Are Used For Loans Not Covered By TRID?
http://bucket.wistia.com/medias/4tgr8zwfuz?embedType=async&videoFoam=true&videoWidth=640 Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached dwelling...
What Kinds Of Loans Do TRID Disclosures Cover?
http://bucket.wistia.com/medias/uwrx0rfeyq?embedType=async&videoFoam=true&videoWidth=640 TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and...
What Do Lenders Have To Tell You About Your Real Estate Loan?
http://bucket.wistia.com/medias/upcw98kjfa?embedType=async&videoFoam=true&videoWidth=640 Federal “disclosure” forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of Oct 1, 2015 lenders must provide TWO New...
What Is A Rate Lock?
http://bucket.wistia.com/medias/meynot1ram?embedType=async&videoFoam=true&videoWidth=640 Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term 'rate lock.' A...
What Is A Certificate of Eligibility, or COE?
http://bucket.wistia.com/medias/b1w5xpxpg2?embedType=async&videoFoam=true&videoWidth=640 What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans...
What Are The Major Types Of VA Loans?
http://bucket.wistia.com/medias/nz5ewe6mmm?embedType=async&videoFoam=true&videoWidth=640 What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at...
What Are VA Home Loans?
http://bucket.wistia.com/medias/al2m8t5d5d?embedType=async&videoFoam=true&videoWidth=640 What Are VA Loans? As the video says, the name is misleading - they’re not loans FROM the VA. The VA - short for “US Department of Veterans Affairs” - is the Federal...
What Is The Debt-To-Income Ratio (DTI)?
http://bucket.wistia.com/medias/n7e2f48o03?embedType=async&videoFoam=true&videoWidth=640 Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are...
What Does Ability To Repay Mean?
http://bucket.wistia.com/medias/gxsxg9jv77?embedType=async&videoFoam=true&videoWidth=640 What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay...
What Is A Qualified Mortgage?
http://bucket.wistia.com/medias/scf66zopa3?embedType=async&videoFoam=true&videoWidth=640 As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new...
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