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October 3rd, 2015 TRID Changes: A Team Mentality is Vital for Success
October 3rd, 2015 TRID Changes:
 A Team Mentality is Vital for Success     
 
 
     By now, I'm sure you've heard about the BIG changes coming to home buying and mortgage financing ...      
     
     Those changes are called Tila-Respa Integrated Disclosures, or TRID for short.  

     They take effect on October 3, 2015 and include ALL Residential Mortgage Loan Applications taken on and after that date. 

     Long talked-about prior to their effective date, these changes are being put into place to help Buyers and Sellers educate themselves and become more informed about their real estate transaction and mortgage process.  
 
     The 3-day Disclosure Period (minimum) within these TRID changes is meant to provide more time to clients when receiving exact costs related to their loan.  The hopes are that this will result in an extra layer of protection to those borrowing money when buying or refinancing a home. 

     Much has been written in regards to the pros and cons of these new changes, both from a consumer's point of view and the professional one.  But many concerns raised can be addressed and overcome if everyone involved in the transaction practices a "team" effort and mentality.  

     What do ... more

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