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» VISIT US ONLINE @ DSNEWS.COM 9 A look at facts you didn't know you couldn't live without. Compiled by the DS News Staff TAKE A LOOK INSIDE THE NUMBERS D ATA B I T S Fannie Mae and Freddie Mac have combined to prevent 120,000 foreclosures in the first six months of 2015 through both retention and non-retention foreclosure alternatives, according to the GSEs. Foreclosure completions totaled 40,000 for April 2015, down by 20 percent from April 2014 but still almost double the monthly pre-crisis monthly rate of 21,000 from 2000 to 2006, according to CoreLogic. CFPB SETS FINAL TRID EFFECTIVE DATE INSIDE THE JOURNAL // MOVERS & SHAKERS // ON THE WEB // THE APP SPECTRUM Source: CoreLogic (as of June 2015) METROS WITH THE HIGHEST YEAR-OVER-YEAR APPRECIATION (INCLUDING DISTRESSED) 1 Dallas-Plano-Irving, Texas 8.6% 2 Houston-The Woodlands-Sugar Land, Texas 7.4% 3 New York-Jersey City-White Plains, NY-NJ 6.4% 4 Los Angeles-Long Beach-Glendale, California 6.2% 5 Atlanta-Sandy Springs-Roswell, Georgia 6.0% 6 Phoenix-Mesa-Scottsdale, Arizona 5.1% 7 Minneapolis-St. Paul-Bloomington, Minnesota 4.9% 8 Riverside-San Bernardino-Ontario, California 4.5% 9 Chicago-Naperville-Arlington Heights, Illinois 3.3% 10 Washington-Arlington-Alexandria, DC-VA-MD-WV 2.5% Metro YoY Increase Ranking STATES WITH THE HIGHEST YEAR-OVER-YEAR APPRECIATION (INCLUDING DISTRESSED) 1 Colorado 9.8% 2 Washington 8.9% 3 New York 8.3% 4 South Carolina 8.0% 5 Nevada 8.0% 6 Oregon 7.9% 7 Florida 7.8% 8 Texas 6.9% 9 South Dakota 6.7% 10 North Dakota 6.4% Ranking State YoY Increase e Consumer Financial Protection Bureau (CFPB) finally set an official effective date for the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, after much de- bate and numerous industry requests to delay the rule. In July, the CFPB issued a final rule moving the effective date to Saturday, October 3, 2015. "e Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rule," the CFPB noted in a state- ment. "e Bureau further believes that scheduling the effective date on a Satur- day may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems. A Saturday launch is also consistent with industry plans tied to the original effective date of Saturday, August 1." In June, the CFPB announced a proposed amendment to the TRID rule, which would move the effective date of the rule to Satur- day, October 3, 2015. According to CFPB, the Bureau is is- suing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015. e Bureau first announced on June 17 it would issue the proposed amendment to push back the TRID launch date. At that time, CFPB Director Richard Cordray announced the proposed effective date was being moved from August 1 to October 1. "We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks," Cordray said in July. "We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time." Art Tyszka, senior director and general manager of Residential Lending Wolters Klu- wer Financial Services responded to the CFPB's decision with gratitude and understanding. "Having witnessed firsthand the significant challenges the industry is facing in preparing for change of this magnitude, we understand the CFPB's decision to push back the TRID effective date," Tyszka said. "e two-month extension provides needed breathing room for many lenders to help ensure they are compliant when the deadline arrives." According to the CFPB, the rule requires easier-to-use mortgage disclosure forms known as the Loan Estimate and the Clos- ing Disclosure to ensure compliance and clearly lay out the terms of a mortgage for a homebuyer. e Bureau issued the change to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until August 15, at the earliest. e final rule issued in July also includes technical corrections to two provisions of the Know Before You Owe mortgage disclosure rule, according to the CFPB. PAGE 38 EXECUTIVE VICE PRESIDENT, MORTGAGE SERVICES, BANKUNITED FIVE MINUTE'S WITH WITH Ray Barbone

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