FreddieMac Stops Publishing PMMS Regional Rates
IDS Compliance is aware that FreddieMac has stopped publishing the regional Primary Mortgage Market Survey® (PMMS®) rates. The FreddieMac website states:
An issue that this creates is that some state laws, e.g., New York, refer to the regional PMMS rate. IDS Compliance received a notice from New York that guidance will be released very soon to help manage this issue.
During the TRID implementation period, there were changes made to the idsDoc System that IDS Compliance was unable to communicate through the usual weekly IDS Compliance Updates. The posts with missing information have been updated. Although the older posts were updated, the following is a list of the changes that were made:New Settings:
IDS Compliance recognizes the hard work that went into TRID Implementation during 2015. As TRID continues to dominate the mortgage origination process, IDS continues to work to refine its system and integration with other systems. IDS Compliance also continues to evaluate ways that the system can help Lenders with their compliance. That’s why doc and audit updates continue to remain at the forefront of what we do. IDS Compliance also gets heavily involved in helping IDS Customers through staff training, writing FAQs, and answering Desk cases.
During the coming year, IDS Compliance will keep an eye on trends in the mortgage compliance world and respond accordingly. IDS Compliance wishes all IDS Customers a happy 2016. If compliance questions come up that IDS Compliance can help with, please feel free to title your Desk requests ATTN: Compliance. IDS Compliance strives to provide the best doc prep mortgage compliance in the industry.