There was a recent article that pointed to investor concern related to TRID liability. How will TRID affect the secondary market?

The secondary market is going to be concerned about any compliance issue, whether it’s TRID related or the ones that I talked about. To the extent that there becomes more either litigation or regulatory actions around TRID, I think you’ll see the secondary market take notice. I don’t think TRID is going to be a yawner from a compliance perspective, but we have a little bit of a window here to see what happens. Stay tuned, however, I don’t think TRID is going to be without incident and we are already seeing some casualties.

Answered By: Brian Levy