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 previous comments.
We closed our most recent TRID loan in under 20 days. It takes 4 to 7 days longer to close a TRID loan. This is b/c of the time it takes to prepare the Closing Disclosure and b/c of the 3 day waiting period. Hence, we continue to tout our “Terrific 21” day closings now instead of our previous “Fast 14.”
TRID is here, and the sky didn’t fall. The below quote is from our most recent TRID borrower:
“Just wanted to send you all a warm thank you for your hard work in getting us a beautiful home. I can’t believe how fast that went by!
Your customer service was top notch, your expertise in all stages of the process was phenomenal, and your team-based approach made it an extremely smooth process. I really don’t think you could have done anything better. 5 stars across the board!
Thank you so very much; will definitely refer you to anyone we know.”
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646