As we head into the last quarter of 2015, it’s time for another Lending Update for agents, lenders, and everyone in between. In our cover story, we asked four lending experts to supply answers to the most frequently asked questions they receive about TRID, TILA/RESPA, and what to expect as the new rules take effect. We also cover the current state of community banks, how to discuss the interest rate situation with your clients, a new policy for FHA loans, and the tough TRID questions that we don’t have clear-cut answers for yet.
The last election year that Americans saw interest rates go up was 2004, when the 0.25% increase on borrowing costs came late in the election cycle and had little impact on the market. With only a few months left in 2015 and an election cycle that’s already picking up steam, it’s hard to say how the Fed will play this one. After all, many Americans have grown used to lower rates and in recent years, a zero-interest rate policy.
Speaking of change, you may notice that mine is a new face for Chicago Agent. I’m very pleased to join this talented staff as the magazine’s new managing editor. Agents are constantly on the move, new research is available seemingly every day, and markets can change in the blink of an eye; the real estate industry is an exciting space to work in. I’m looking forward to maintaining Agent Publishing’s momentum as we push forward with some exciting new offerings both in print and online in 2015, 2016 and beyond.