TRID Archive

TRID: Setback in May

After steady improvements this spring, the average time-to-close, the time from contract to settlement, edged upward in May of 2016 relative to the same time a year earlier.  On average, sales took 3.6 days longer to close compared to...

Steady Progress on TRID

The average delay in time-to-close fell in April, marking the 4th consecutive month of improvement. On average, sales that closed in April took 3 days longer than the same time a year earlier. April’s reading is down from a...

Contracts Typically Settled in 41 Days in March 2016

Among contracts that closed in March 2016, the median number of days to close a contract was 39 days, slightly up from 36 days in July 2015 when NAR first started tracking this information in this survey, according to...

Steady Improvement as TRID Effects Wane

Lenders appear to be making headway in the TRID environment. With the busy spring market underway, this trend bodes well for the looming surge in seasonal volumes. The average time-to-close was unchanged from February at 43.3. To adjust for...

March Marks Modest TRID Progress

Lenders appear to have stabilized the TRID impact and edged toward improvement, but substantive delays linger. With a busy spring market looming on the horizon, their efforts may pay dividends when higher volumes come. The average time-to-close as measured...