Tag Archive for: trid

TRID – Closing Disclosures Timeline & “3 Day Review” Period Explained

This blog is one of the most viewed pages on our website, so I thought I’d update it and send it out again because there is clearly a lot of […]Read More

Closing Disclosure Out Sooner; Before Clear to Close; Closing Faster

TRID CLOSING DISCLOSURE REGULATIONS When the dreaded “TRID” regulations came into effect, one of the biggest causes of delay was the Closing Disclosure or “CD.” The CD sets out the […]Read More

TRID Allows Seller Credit Changes; Expect More Appraisal Reviews

A couple quick updates/reminders. Seller Credits can change any time without causing major delays** in closing. This was a surprise for us in the post-TRID environment, but changes in seller […]Read More

Closing TRID Loans Already; The Sky Didn’t Fall (again)

We are already closing TRID loans, even though TRID just went into effect on October 3rd. This shows that much of the TRID fear was overblown, as I mentioned in […]Read More

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 […]Read More

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

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 […]Read More

Post TRID Turn-Times; Contingencies Same; COE 7 Days Longer

As mentioned, now that TRID is in effect we are requesting 21 day escrow periods instead of our usual 14 day escrow periods. We are working to move back to […]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 […]Read More

TRID Explained Again; Not That Serious; A Few Days of Delay

TRID goes into effect on October 3rd, as most people know. TRID replaces the “Good Faith” and “Truth In Lending” with a new document called a “Loan Estimate.” The Loan […]Read More

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

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 […]Read More

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

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 […]Read More