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According to a recent survey it would appear that TRID is working just fine.  So we guess the CFPB doesn’t need to re-write anything.  What do you think?



additional comments on
"Good News. TRID Works Great."

  1. Wayne Hunter says:

    If only HUD and bank properties, others + Realtors would get the message, and stop contracts for only 30 day closings; when lenders don't get the contracts for at last a week after parties sign them.

  2. I know who does review documents…. REALTORS. The people that trid has pushed out.

  3. I think they are full of beans. More trouble, more confusion and wasted time and energy. Corki Feltman. KW Realty, Stockbridge, Ga

  4. I had a "loan officer" TELL me in no uncertain terms the other day that she could not TELL me anything about what my Buyer needed to DO that she wasn't losing her job just for ME. That's fine, that will be the last loan she will ever see from me/not that I sent it there to begin with.

  5. Charla Cook says:

    I saw my first one yesterday with a client who inquired with me after she reviewed them, her words, "I'm confused" what amount am I suppose to bring to closing! There are two numbers both stating closing amounts. I looked it over and I'm not sure, so we sent it over to the Title company to get confirmation.

  6. Kris Cooper says:

    I question what there is to actually understand, "this your loan $000,000, this is your rate and its the same for the next 15 yrs, this is your payment you pay it every month on this day" Understand?
    Yes I understand thank you….

  7. Bob Hagan says:

    Corki Cat Feltman, its unfortunate that the LO had to tell you that ,but it is, to my understanding, the way the law is now written. That being said an LO can provide you ,as the selling agent, information as long as the buyers give express written consent to release their information on their loan to you. if not then the LO's hands are tied by FED Regs.

  8. Jeff Womack says:

    I can't stand all of this governement regulation, but I have to admit that it makes my job relevant. With the increase in cpu automation our jobs would be in joepardy if their werent so many hurdles to jump through.

  9. Jeff Womack says:

    I sit in on most of my clients signings, but most agents are surprised to see me there. Not sure why it's common practice for RE agents to be the only person to answer questions pertaining to the loan when signing closing documents.

  10. Dan Neumann says:

    Amen….and call us to determine how much time we will need. Some clients are complicated and others aren't. Realtors commission doesn't depend on clients credit score!

  11. Jeff Womack , I personally respect when LO's take a role in the process. As far as TRID though, this is the CD stage where I believe the agent should be able to see the docs before the buyer.

  12. Oh Sure these forms are being reviewed. (ha,ha). How come to date, after more than $35 million of origination, no one has asked me what a TIP, (total interest percentage) is? I probably couldn't explain it anywa.

  13. Leslie De Palo says:

    WHENEVER possible, which is usually all the time, I attend Loan closings to answer any and all questions that my Borrower(s) may have and to make sure everything is done properly, signing certain documents (1003, etc.) in person, as required by my Broker/Lender. HOWEVER, recently, a rather rude Real Estate Agent informed me that I was not needed, meaning not “wanted” at the loan signing. He made sure the date/time was inappropriate and last minute, even after I told him there were mistakes made by the Title company that had to be changed. He made sure I was not able to be there and changed the signing date numerous times to the confusion and utter outright anger of the Escrow Officer. Further, I had told this infamous Agent that I would need 30 days or so to close the loan. He gave me only 26 days (February 1 to February 26), which included President’s Day and Valentine’s Day holidays AND we had to get IRS business AND personal Tax transcripts on top of it all. The chosen Title company was seemingly inexperienced and made a bunch of mistakes and the final docs had to be tweaked many times over the last few days. In the end, I am sure the Escrow Officer had to RUN to the County Recorder’s office to get the loan recorded on time! Anyway, the loan closed, funded and recorded within the 26 day time frame, but it was a nightmare. This loan was a 95% CLTV Purchase Money loan with a Self Employed Borrower who had an LLC, as well as, he did not file his Tax Return for 2014 because he did not take any income for 2014. This was not a simple loan, yet, gratefully, the Borrower was thrilled and it closed on time. Needless to say, I doubt I will ever work with this Title company or the Realtor again.

  14. Been real estate agen/broker 21 yrs 10 of which I went to every closing. WHO THE HELL DIDN'T LOOK AT GFEs & HUDs???? In Ohio The reality is in the whole loan package approx 6 whopping docs are worth discussion. Is your basic info & social right? rate, term and prepay right? costs? Sign & done in 30 mins!!! Unless you want to read the note and other surplus nonsense. WTF!!! As for TRID 35 day approvals close in 40 days. I give my LO 10 extra days. More than not times are met with proper buyer cooperation.

  15. John W says:

    9 out of 10 buyers don’t read the purchase contract which is only 10 pages. Or the SBSA which is only 12 pages. The answer, as you have suggested, is NOT to make things shorter. I don’t want to go back to a 1 page RPA…

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