Sandler Law Group, a leading provider of legal and support services in residential mortgage lending transactions, is excited to announce the appointment of Mike Mercer as Sales Executive. In this role, Mike will lead strategic business development initiatives and strengthen relationships with clients to support the firm's continued growth and success.

The determination of a home’s value is a critical step in the mortgage process as it determines how much a lender is willing to extend to a borrower and on what terms.  In general, the valuation is done through an appraisal which is intended to be an unbiased assessment of a property’s value.  However, the percentage of borrowers who have received a valuation under  the contract price has historically been higher among minority populations than non-minority populations.  Discrimination in the appraisal process, such as assigning a lower value to a home because of the race, ethnicity or national origin of the homeowner, is known as appraisal bias.

For mortgage lenders, the mortgage process can be daunting, with its myriad regulations and requirements. Among these, the TILA-RESPA Integrated Disclosure (TRID) Rule, implemented by the Consumer Financial Protection Bureau (CFPB) in 2015, stands out for its impact on disclosure timing and tolerance requirements for mortgage lenders. In the first two posts of this series (Part 1, Part 2) we reviewed some of the key requirements and limitations the TRID Rule imposes on lenders. In this blog post, we’ll delve into some of the legacy thresholds reviewed in TRID examinations as well as provide some useful recommendations for lenders to ensure ongoing TRID compliance.[1]

The higher interest rate environment has given rise to a renewed interest in the use of temporary buydowns to help borrowers lower their initial monthly mortgage payments. A temporary buydown allows a lender, seller, builder or other third party to deposit funds which will subsidize the borrower’s mortgage payments for a predetermined period of time, thereby reducing the borrower’s monthly payments during that agreed period. Buydown funds can also be provided by borrowers themselves.

The mortgage process can be daunting, with its myriad regulations and requirements. Among these, the TILA-RESPA Integrated Disclosure (TRID) Rule, implemented by the Consumer Financial Protection Bureau (CFPB) in 2015, stands out for its impact on disclosure timing requirements for mortgage lenders. Similar to the fee tolerance requirements discussed in Part 1 of this series, it is crucial for lenders to understand and adhere to the timing requirements under the TRID Rule to maintain compliance and provide borrowers with a transparent and smooth mortgage experience. In this blog post, we'll delve into the timing requirements of the TRID Rule, including delivery methods, business days, certain exceptions, as well as offer suggestions for lenders to streamline their workflows, thereby avoiding disclosure timing issues.

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 (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.