Update On Recent Trends And Issues In Mortgage Regulations

We now have an update on recent trends and issues in mortgage regulations. The changes for RESPA and HUD have been delayed until October 3, 2015.  The CFPB, or which stands for Consumer Financial Protection Bureau, were set to implement the recent trend and issues in mortgage regulations as well as the changes.  As an organization, the Consumer Financial Protection Bureau is not required to obtain any legislative approval prior to making those changes as set forth by Dodd Frank Mortgage Act.  The only requirement the Consumer Financial Protection Bureau has to fulfill is to fill out a two page form and send it to them within 60 days the policy change is supposed to take affect. The Consumer Financial Protection Bureau missed the deadline. The Consumer Financial Protection Bureau is an agency whose responsibility it is to oversee a 2 trillion dollar a year industry and cant seem to fill out a two page form in time.

Numbers On Home Building Starts

Home building starts, depending on where you live, is showing signs of growth and life and promising future growth. The resilience of the economy to create can and seems to surpass any obstacle that comes before them.  Some say this is due to banks opening up commercial lending to builders in the form of construction loans and lines of credit. Others say it is the looser credit standards(use this term loosely) banks have in lending to individual borrowers  for home loans.  As construction costs, which include labor and materials, as well permits all go up,  the price of these homes will have to trend upward in order for margins to be maintained.

Rates And Prices

Rates and prices have an affect on purchasing power.  There is another cost too, which many parents who move into a great school district or one lacking commercial tax burden can sympathize with: real estate property taxes. No matter how long you own your property, if and when you pay off that note, you still owe your local government for taxes. For that reason, local governments own a part of your home, even if a lien does not come up. If and when you can, please appeal those taxes.  If you can find an attorney to charge on the back end so it would be extremely beneficial to you to consider their services. Loving your family and wanting the best for them should not require you to unload your pocketbook to some municipality that spends before they save.
This article was written by Ron Granado, a veteran title officer and an expert in real estate and mortgage rules and regulation.  Ron Granado is well respected by real estate attorneys, mortgage bankers, realtors, and consumers.  Ron Granado is a guest writer for Gustan Cho Associates and other professional real estate organizations.
Ron Granado
The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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