Mortgage closing dates and waiting periods can cause a real time crunch when trying to close on a home purchase. In this interview, Kim Dodge reviews the new TILA-RESPA Integrated Disclosure Rules that went into effect in the Fall of 2015. The National Association of Realtors advised its members to add 15 days to their standard home purchase contract timeline, which was big deal!
If you’re about to See or Buy a new home then you will be glad to know that the new disclosures are easier to read and understand and critical loan details are explained in common language.
The rule impacts the majority of mortgage lending transactions in the United States for home purchase or refinance. Kim reviews how these new Consumer Financial Protection Bureau rules may impact you if you are buying, selling or refinancing a home.
Is your mortgage professional up to speed on TRID? We are!