CFPB issues guidance on construction loans/TRID

first_imgGood Tuesday morning from our nation’s capital! I’m happy to be in attendance alongside the nearly 5,000 credit union professionals at this year’s CUNA Governmental Affairs Conference (GAC). GAC is a tremendous opportunity to network with others in the industry and share stories of the #CUdifference with our legislators and regulators.As always, CUNA has done a great job of putting together a jam packed agenda here in Washington, D.C. As a result, I’ll keep today’s post brief. You know, it’s funny. I can actually hear my regular readers (all three of them) breathing a collective sigh of relief.Last month the Consumer Financial Protection Bureau (CFPB) was kind enough to issue some clarifying guidance on complying with the Integrated Disclosure Rule (TRID) relative to construction loans. While many in the industry found the guidance lacking in substance, at least it’s something. Let’s take a moment to review the key points:Construction Loans are Subject to TRIDWhile you were not required to provide the Good Faith Estimate (GFE) on construction loans as they are considered temporary financing under the Real Estate Settlement Procedures Act (RESPA), most construction loans do fall within the scope of TRID. As a result, both the Loan Estimate and Closing Disclosure are required to be provided in connection with a closed-end construction loan. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Brand-new home appeals to buyers in inner-city suburb

first_imgMore from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoWith $36.5 million in sales and completion due in a matter of months, buyers are snapping up Di Carlo Property Group’s TriBeCa Terraces in Bulimba. Photo: SuppliedFeaturing large living and kitchen areas, multiple balconies, generous third bedrooms, multiple bathrooms, ground-floor courtyards, double garages, extensive landscaping and recreation areas, the development has proven popular with families.Among the recent purchasers are Skye and Simon Whyte who are eagerly awaiting their move to TriBeCa Terraces with their daughter Chelsea. The family purchased a three-storey, three-bedroom terrace featuring three bathrooms with a powder room.Mrs Whyte said they had not been house hunting long when they came across TriBeCa Terraces. Skye and Simon Whyte with daughter Chelsea. A lifestyle of convenience is proving a hit with families buying apartments at TriBeCa Terraces, Bulimba.With $36.5 million in sales and completion due within months, buyers have snapped up 38 of the 53 terraces by Di Carlo Property Group in the tightly held inner city suburb.Di Carlo Property Group director Joshua Di Carlo said buyers in the first stage could expect to be living in their new homes by June while the second stage is due for completion in August.“We’ve certainly garnered a lot of interest from buyers who are excited at the prospect of moving into a brand-new home so quickly,” Mr Di Carlo said.“The terraces are in a prime position giving homeowners access to a range of different amenities which is set to be enhanced with the Bulimba Barracks redevelopment offering an entertainment precinct with riverfront restaurants and parks within walking distance.“TriBeCa Terraces really offers a well-rounded lifestyle where buyers can secure a modern, well-appointed home in a sought-after location and the market has had a strong response to this,” he said. It had immediate appeal because of its location, build quality, high-end specifications and design layout.“Having lived in Bulimba and the surrounding area for the past six years we have become very familiar with the area and the lifestyle it offers which is second to none in our opinion, so being able to buy locally was a major drawcard,” Mrs Whyte said.“Working busy corporate jobs means the time we have at home is minimal, so we wanted a lifestyle of convenience.“We love that we’re only a short ferry ride to Teneriffe or Portside and it’s a very relaxing way to travel to work. A lot is to be said for the calmness that commuting to work via the river brings into your life,” she said.Mrs Whyte said the freehold aspect of the terraces which had given them the unique opportunity to own the land that their terrace home sits on, together with the quality of the terraces, was also a selling point.“The architecturally designed terraces offering an exclusive and high-end finish was the exact product that we were looking for,” she said. “Having the third bedroom located on the ground floor instead of the first has really maximised the living and dining space.  “Also knowing a high percentage of other local owner-occupiers had purchased into the development really solidified our decision.’’last_img read more

Princess Cup aims to put Thai equestrianism on the map

first_imgThe competition will begin on November 22 with an official opening ceremony presided over by Her Royal Highness Princess Bajrakitiyabha,Spectators and equestrian aficionados are welcome to attend. For directions to the venue, visit: www.princesscupthailand.com. The Princess Cup Thailand 2017 takes place in Bangkok from Nov. 22-26. (Photo courtesy Princess Cup Thailand)Tourism and Sports Minister Kopkarn Watthanawa­rangkura announced earlier this week that preparations for the upcoming Princess Cup Thailand 2017 are now in full swing.In her capacity as the president of the tournament’s organizing committee, Ms Kopkarn said the show-jumping and dressage event, supported by Her Royal Highness Princess Sirivannavari Nariratana, will be held from November 22-26 at the 29th Royal Stable Unit in Bangkok.  The Princess is the chairperson of the event’s Management and Policy Committee.The Sports Minister also revealed that this year’s Princess Cup aims to improve and develop equestrian skills at the local level and raise them to meet international standards, as well as to promote equestrianism and eventing among Thai people.  There are five competition categories at the Princess’s Cup 2017: dressage, jumping, eventing, best groom and best farrier.The Princess’s Cup event has been held four times previously, in 2001, 2002, 2004, and 2016.  However, this year’s event is special because there will be international equestrians competing in various categories for the first time.  Moreover, representatives from the diplomatic corps and international organizations in Thailand will also be participating in the event, to help promote the Princess’s Cup’s on the global stage.last_img read more