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Home Buyers Have it Really Tough with TRID

By
Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

Ordinarily, we as Sacramento REALTORS do not get that involved with a home buyer's mortgage process. That's between the lender and the buyer. We absolutely do NOT get involved when the buyer is using our preferred mortgage lender because those guys are always on the ball. Nothing falls through the cracks with them. They are the most dedicated mortgage loan officers I've ever met. Incredible attention to detail and immediate action, which tends to prevent problems, even with TRID.

The problems that arise, of course, often originate when the buyer elects another lender such as the credit union or a major lending institution simply because they bank at those institutions. I'm finding out what it is like being on the other end as a buyer, and let's just say it's pretty astonishing what buyers have to go through. Nothing like first-hand experience to shake up my attitude a little bit. At least I know how to troubleshoot but a regular buyer would not. I have already saved myself huge future problems that I know, without fail, a buyer would not know how to do.

You can read more about this and see the photo of me recouping after dealing with TRID paperwork at my Hawaii lanai in my personal blog today at this link: A Newfound Empathy for Home Buyers and TRID.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Comments(5)

Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Elizabeth, there is nothing like first hand experience to help us empathize with our clients.  And are you using a credit union?  

Dec 17, 2015 05:01 AM
Elizabeth Weintraub Sacramento Broker

Not for my loan, no. I'm using a lender in Oahu.

Dec 17, 2015 05:39 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Elizabeth. I have a couple of blogs coming out on this topic. For the most part the process has gone great, if I saw issues it was on the attorney or title side. The Realtors have done a great job.

Dec 17, 2015 07:12 PM
James Dray
Fathom Realty - Bentonville, AR

Good morning Elizabeth.  You're not the only one. I read where TRID is causing a lot of issues.  It was reported better than 80% of the paperwork would not pass muster..  Sigh

Dec 17, 2015 07:28 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It should be mandatory for every Realtor to go through a dry run for a loan from their lenders to see what their clients have to go through.

Dec 17, 2015 08:09 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I like Gabe Sanders suggestion.  We should have to go through this crap so we know what is happening.

Dec 19, 2015 08:03 AM