A consumer disclosure requirements associated with TRID are having a bigger impact than just delaying closings on home loans. The mortgage industry is also sounding concerns about the fact that some investors declined purchasing loans as a result of the potential compliance failures associated with them. This is leading to a bottleneck when lenders try to sell the loans off…
TRID
Even though the mortgage industry is still adapting to the process of implementing TRID, there are other systemic and broader risks that cannot be overlooked either. Without paying attention to some of these indirect pitfalls, lenders could experience disruptions in their operations. One of the most common pitfalls has to do with the way that a lender views the accuracy…
Now that TRID implementation should be well underway in your lending office, what does that look like? What challenges have you faced? Prior to implementation, realtors felt ready for the changes. In fact, a survey conducted by the National Association of Realtors revealed that more than 80 percent of realtors had received training on this before the implementation date. One…