Castle & Cooke Mortgage President and Chief Operating Officer Adam Thorpe recently sat down with the editors of Inside Mortgage Finance to discuss the company’s growth plan and the TRID delay.

In an article titled “Utah Lender Plans to Expand VA, FHA Segments Nationwide by 2016,” Adam shared Castle & Cooke Mortgage’s plans to expand to 48 states by the end of 2016 and what makes the company a leading FHA (Federal Housing Administration) and VA (Veteran’s Administration) mortgage lender.

Adam Thorpe

President and Chief Operating Officer Adam Thorpe

“Castle & Cooke Mortgage uses a variety of marketing initiatives that target not only borrowers who would benefit from the FHA and VA programs but also potential affinity partners and referral sources who are working with borrowers for whom the government programs might fit.

“We’ve seen a gradual strengthening of the economy and rising home prices, which have had a dramatic effect on originations across the board both for FHA, VA and conventional,” Thorpe said.

Adam also provided industry insight on how the TRID delay could affect the mortgage industry. In the article titled “Industry Pleased with TRID Delay…,” Adam said the impact from the Consumer Financial Protection Bureau’s TRID (TILA-RESPA Integrated Disclosures) implementation delay will vary from lender to lender.

“Before the announcement, most large, sophisticated lenders, like Castle & Cooke Mortgage, were well on their way to becoming fully prepared for the TRID implementation and enforcement.”

“For [large lenders], the proposed delayed TRID implementation will offer a small benefit by allowing additional time to continue growing a competitive advantage,” Adam said. However, the TRID delay could provide a significant benefit to smaller lenders, “giving them more time to address critical process and operational changes,” he added.

The TRID rule is part of the Dodd-Frank Act and is aimed at improving consumer understanding of the mortgage process so they can make more informed financial decisions. The implementation of the rule was slated to begin August 1, but the CFPB proposed a later date of October 3.

Read more: How TRID is Changing the Home Loan Process

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