Friday, October 9, 2015

MORTGAGE BROKER GROUPS AND TRID



It would appear there is an attempt is being made by mortgage broker groups to delay the penalty period for TRID non-compliance:

http://campaign.r20.constantcontact.com/render?ca=a66799fa-d4f0-4585-a48a-8f731ffedc38&c=8db0f940-35c2-11e3-b42a-d4ae52a45a09&ch=8ea89fb0-35c2-11e3-b525-d4ae52a45a09

I attended a TRID training seminar recently and the consensus is that because residential sales must be handled differently, some of the past practices will no longer apply. Buyers, and Sellers, should now be made aware that this cannot be an accelerated process and attorneys should advise Sellers and Buyers of the effect of the TRID rules.

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