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

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 final loan terms, and borrowers are not allowed to sign actual loan documents until three business days pass from the signing of the CD. This three-day review period is […]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 credits for closing costs do not require a new 3-day waiting period, even if they change after the Closing Disclosure (CD) is issued. ** Seller […]Read More