Changes in Mortgage Closings

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It’s being pitched as a good thing for consumers – changes to mortgage closings. We discuss the changes coming to mortgage closings with three people needed to close a transaction – a broker, title officer and lender. Hear the story of how teamwork is needed more than ever from Rick Harris, owner/broker Coldwell Banker Pro West, Sandy Boughton, Mortgage Express and Cindy Fox, Escrow Officer at Ticor Title. This change comes from the Consumer Financial Protection Bureau and will effect every real estate transaction involving a loan. They join Pete Belcastro for today’s 300th Real Estate Show on KMED.