Tag Archive for: disclosures

TRID Again: 21 Day Close; Nobody Can Change Fees or Credits

/in ,
Now that we are getting our arms around TRID, we realize that a 14 day close will be impossible. The best case will be 21 days. This is b/c we cannot issue the required “Closing Disclosure” until 7 business days after we issue our initial disclosures that include the “Loan Estimate.”  And, it takes us at least 3 to […]Read More

TRID/New Reg’s Not In Effect Until October; Not Serious Anyway

/in ,
TRID or the new disclosure rules continue to strike fear in the hearts of everyone, and they shouldn’t. First, most lenders are not implementing TRID until October (August 1st is no longer the deadline). And second, the new disclosures are not that much more complicated (some are better), and they will not cause the massive […]Read More

New TRID Disclosures On August 1st; Not Serious For Smart Lenders

/in ,
There seems to be apprehension about new loan disclosures that will be required on August 1st. There shouldn’t be. Current disclosures are known as TILA (Truth In Lending Act) and RESPA (Real Estate Settlement and Procedures Act). And frankly, they are too confusing. The new disclosures are called TRID or TILA/RESPA Integrated Disclosures, and they […]Read More