Mondays Motivation – The new CFBP rule!

#MondaysMotivation – The new CFBP rule is out! And the black hole has been filled! The “old” 4 day rule is out, and the CFBP does a great job in giving clarity on what can “reset tolerances” in a loan.  I think they got this one right for sure.  It’s great to see regulators not only making the laws to help protect consumers, but revising the laws to provide clarity and ease of use!

Half the battle of all lending laws is having interpretation and implementation to systems and processes to help enforce them.  In this round, the CFBP got it right.  Check out the full video as I explain my interpretation, and how they make it easier to allow for a REVISED CD to reset tolerances.

As always I suggest you be more accurate than ever before upfront.  In fact you should input fees’ less common and be prepared for “inspections” and other transfer fee’s upfront.  No matter what it’s always better to go down than to go up.

This week I’m expanding my lending roster, and welcome helping your arsenal of lenders too! #LetsDoBusiness

As Always #SellWell

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s