Tag Archive for: trid

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

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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

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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

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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)

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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

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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 […]Read More

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

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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

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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?

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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 […]Read More

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

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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

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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

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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