TRID Archive

FHA Fee Reduction On Hold

On Friday, the new administration suspended a 25 basis point fee reduction that the past administration announced on the 9th of January. NAR research estimated that the fee reduction would have benefited 750,000 to 850,000 homebuyers in 2017 whose...

Lenders Rounding Home on TRID

A year after TRID, lenders show signs of growing optimism. The TRID or the Know Before You Owe rules were implemented in October of 2015 and indented to streamline and safeguard consumers in the closing process. Delays and closing...

Closing Delays Rise Unexpectedly

NAR Research began tracking closing delays following the implementation of the TRID or Know Before You Owe rules. These rules changed the settlement process adding new closing documents, tolerances for fees, and timelines. The time-to-close a loan, the period...

Closing Delays Continue to Subside

The housing finance market continues to normalize in the way of TRID and Brexit related delays. The average delay in time-to-close (TTC), the time from when a sale goes under contract to settlement, eased from 3.4 days in September...

Lesson Learned: Few Risky Mortgage Products in the Market

Three years after the ability to repay (ATR) rule was implemented, the risky mortgage products that became common during the last boom and helped fuel the unsustainable run-up in prices are rare. That is one of the key takeaways...