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Home » Store » GSEs » Fannie Survey Shows Smaller Lenders Most Impacted by TRID

Fannie Survey Shows Smaller Lenders Most Impacted by TRID

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GSEs

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Although the GSEs are reviewing loans to make sure the new TRID forms are being used, not for technical compliance, Fannie Mae’s survey of lenders on the impact of TRID showed vendor coordination and communication with key players have been the biggest challenges.More than three quarters of the lenders surveyed cited challenges when it comes to managing and coordinating third-party technology vendors and communication with buyers, sellers and loan officers. In addition, smaller lenders said they feel more burdened since the rule took effect in October. Fannie said many small- to-midsized lenders indicated that they don’t have the same resources as larger institutions which can easily invest in upgrading systems and have in-house compliance resources to...
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