How TRID Affects Home Buyers

Real Estate Agent with Buyer's Edge Company Inc



An acronym for a couple of other acronyms

is it as scary as everyone thought? 

TRID Shark



TILA-RESPA Integrated Disclosure, TRID is the work of the Consumer Financial Protection Bureau. It is the compilation of the Real Estate Settlement and Procedures Act (RESPA) and the Truth in Lending Act (TILA). Any transaction involving a mortgage now uses new disclosure forms. This new rule took effect October 3, 2015.

So how's it Going with the new TRID rules?

A few important details

  • The Loan Estimate-this is how Buyers apply for a loan. The new rules mean a lender provides a loan estimate and can only charge you for the credit report if you decide to proceed with the transaction. The lender has to send the estimate within 3 business days after the Buyer applies & the final loan estimate has to be issued 7 business days prior to the closing. Finally-the loan estimate is done in good faith which means if the amounts vary between the Loan estimate and the Closing disclosure-the Buyer may get a refund.
  • The Closing Disclosure-the Buyer has to receive the disclosure within 3 business days of closing. This document has all the costs the Buyer will pay. If there are any changes-your settlement may be delayed. 
  • Timing requirements-as the Buyer, you need to promptly provide your lender with all necessary information. Answer all emails and phone calls to ensure the home buying process happens on time. When issues or problems arise, be in contact with your lender. A lack of prompt communication could cause a closing delay and other problems. Many of the timing requirements are out of the Buyers control. This is when you rely on your team of experts to get you to settlement on time!



The #1 tip for Home Buyers

Choose an excellent, local Lender & Settlement company  


Buyer Tips for Closings within 3 weeks

courtesy of Ramez Fahmy-Caliber Home Loans

  1. pay an extra $150 to get an appraisal in 3 days
  2. Provide all the necessary documents within 24 hours of the contract approval
  3. Choose an excellent title company who will process a title order quickly
  4. Buyers must get insurance policies set up early and do not wait till the last minute


Victoria Ray Henderson is Vice President & Associate Broker with Buyer's Edge

Marshall Henderson is an Exclusive Buyer Agent with Buyer's Edge

Washington DC's Exclusive Buyer Brokerage serving Home Buyers in Virginia, Maryland & Washington DC 



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4849 Rugby Avenue Bethesda Maryland 20814 office 301.657.1475 cell 301.922.1677


Victoria Henderson is Vice President & Associate Broker with Buyer's Edge, Exclusive Buyer Agent & Realtor in Virginia, Maryland and Washington DC. Victoria is a certified Military Relocation Professional 



Marshall Henderson is a Certified Negotiation Expert & Exclusive Buyer Agent with Buyer's Edge & Realtor in Virginia, Maryland and Washington DC

Certified Negotiation Expert


Members of National Association of Exclusive Buyer Agents

Not Just a Buyer's Agent, an Exclusive Buyer's Agent. There's a Difference. Learn more at: &


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