Tag Archive for: closing periods

TRID: Longer Escrows; Contingencies The Same

This is a reminder that transactions that are “disclosed” after the October 3rd TRID implementation require about 7 more days to close. BUT, contingency periods remain the same. We can still release appraisal and loan contingencies in 8 days. TRID does not slow down contingency periods. One more important reminder: If you make meat-chili, you […]Read More

TRID Again; Contingencies & Closing Periods For Contracts Now?

Realtors are asking how they should adjust closing periods and contingencies with TRID coming into effect on Saturday. Some lenders are telling Realtors they need 45 days to close b/c of TRID, and we have no idea why; those lenders must have monks in back rooms copying loan documents with quill pens on parchment paper. […]Read More