What Disclosures Are Used For Loans Not Covered By TRID?

by mcgeheeloanclosings | Jun 24, 2015 | TRID | 0 Comments

http://bucket.wistia.com/medias/e9n8b86hsn?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?

by mcgeheeloanclosings | Jun 24, 2015 | TRID | 0 Comments

http://bucket.wistia.com/medias/5f7u7imcwf?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?

by mcgeheeloanclosings | Jun 24, 2015 | TRID | 0 Comments

http://bucket.wistia.com/medias/jfexgmzs5o?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 Equity?

by mcgeheeloanclosings | Apr 4, 2014 | Mortgages: | 0 Comments

http://bucket.wistia.com/medias/36e9gj43t7?embedType=async&videoFoam=true&videoWidth=640 Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this...

What Are Real Estate Commissions?

by mcgeheeloanclosings | Apr 4, 2014 | Title and Closing | 0 Comments

http://bucket.wistia.com/medias/apv9hj5t5c?embedType=async&videoFoam=true&videoWidth=640 Like the video says - real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent...

What Is “Prime”?

by mcgeheeloanclosings | Apr 4, 2014 | Mortgages: | 0 Comments

http://bucket.wistia.com/medias/9w4apzib6b?embedType=async&videoFoam=true&videoWidth=640 The Prime Lending Rate - sometimes just called “Prime” - is the interest rate that banks charge each other for overnight loans. Some consumer rates - like ARMs - are set...