Tag Archive for: closing periods

TRID: Longer Escrows; Contingencies The Same

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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?

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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