Anecdotal Evidence Mounts of Minor Closing Delays Due to TRID
January 11, 2016
The latest Campbell Surveys/Inside Mortgage Finance HousingPulse survey provides further anecdotal evidence to support the claim that the TRID rule is in fact contributing to delays in closing mortgages. “TRID rules caused delay of about 10 days,” thanks to “new processes for title and lender,” said one real estate agent in California. Another in North Carolina said, “Lenders do not communicate well with real estate agents. With TRID now in effect, I feel like I am flying blind trying to organize, coordinate and keep things on track.” A third in New Hampshire noted, “We had four more closings expected to close in November but are delayed due to TRID. Some had 60-day closing dates and have been extended up to ...