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TRID Refresher Series (Part 1): Understanding TRID Tolerance Requirements and Valid "Change of Circumstance" in Mortgage Transactions
This is the first entry of a three-part refresher series covering various aspects of the TILA-RESPA Integrated Disclosure Rule.
The TILA-RESPA Integrated Disclosure (TRID) Rule, implemented by the Consumer Financial Protection Bureau (CFPB) in 2015, revolutionized the mortgage industry by consolidating several forms and disclosures into two main documents: the Loan Estimate (LE) and the Closing Disclosure (CD). Among its many provisions, the TRID Rule outlines fee tolerance requirements and defines "changes of circumstance" that affect loan terms. Understanding these aspects is crucial for lenders to navigate mortgage transactions smoothly.
Employee Spotlight: Seven Questions with Doc Prep Closer, Kim Ford!
Meet Kim Ford! She’s one of our Closers at Sandler Law Group and this March, we celebrated her 8th anniversary with our team!
Sandler Law Group Promotes Mortgage Compliance Legal Veteran Diane Jenkins to Partner
Sandler Law Group (SLG), a Dallas-based law firm with a practice exclusively focused on meeting the legal and compliance needs of residential mortgage lenders, is pleased to announce the elevation of Diane Jenkins to the position of Partner.
Talk About Buydowns
We are fielding a lot a questions about buydowns lately. Unless the buydown is contractual (part of the note), it is not reflected in the rate or payment stream (on the Note or CD). Most buydowns we are seeing are not a contractual buydown. This type of buydown is a side deal to fund a portion of the payments that the borrower is contractually obligated to pay under the Note.
Sandler Law Group’s Executive Director, Vicki Murphy-Gee, Receives the Larry E. Temple Distinguished Service Award
Vicki Murphy-Gee accepts the TMBA Larry E. Temple Distinguished Service Award.
SANDLER LAW GROUP ENHANCES CAPACITY TO MEET CLIENT NEEDS OUTSIDE OF TEXAS
Sandler Law Group (SLG), a Dallas-based law firm exclusively focused on serving the needs of residential lenders and servicers, is pleased to announce its multi-state capabilities have recently expanded, extending the firm’s ability to satisfy the full spectrum of its clients compliance and closing needs.
FTC Addresses Deceptive Use of Endorsements in Advertising
The Federal Trade Commission (FTC) recently sent a reminder notice outlining acts or practices that the FTC considers to be deceptive or unfair under the FTC Act.
Can You Close a Mortage on a Federal Holiday?
Can we close a mortgage loan on a holiday? If a closing takes place on a federal holiday, how does that affect the counting of “business days” for rescission and disclosure purposes?
Hello Director Chopra, Goodbye LIBOR
A look back on what happened in the last year in the mortgage industry, and also a look ahead to what we may be encountering from a compliance perspective in 2022.
Is a Survey Required in Texas?
Learn why there is a property survey in almost every Texas loan file.
Sandler Law Group’s Process Improvement Liaison, De Ann Rogers, Receives HousingWire 2021 Insiders Award
HousingWire announced its 2021 Insiders Award winners, including De Ann Rogers, Process Improvement Liaison at Sandler Law Group (SLG).
Jessica Nguyen Joins Sandler Law Group as Associate Attorney
Sandler Law Group is delighted to announce Jessica Nguyen, an Associate Attorney licensed in Texas and Ohio, has joined our expanding team of dedicated attorneys assisting mortgage lenders in satisfying the full spectrum of their compliance and closing needs. Join us in welcoming Jessica!
CFPB Issues Interpretive Rule on Impact of Juneteenth Holiday for 2021
The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule to provide guidance on whether Juneteenth should be treated as a federal holiday or business day for 2021 for purposes of calculating TILA rescission and disclosure timing periods.
FHFA Eliminates Adverse Market Refinance Fee
On July 16, 2021, the Federal Housing Finance Agency (“FHFA”) announced the elimination of the “Adverse Market Refinance Fee” it instituted to cover projected losses as a result of the COVID-19 pandemic.
FHFA RefiNow Program Announced for Low-Income Borrowers
Just as interest rates were starting to trend upwards, the Federal Finance Housing Agency announced RefiNow, a new refinance option targeted for low-income borrowers with Enterprise-backed single-family mortgages.