Here’s how TRID is impacting the real estate process

SOURCE: Mortgage News Feed

Now that more than two months have passed since the TILA-RESPA Integrated Disclosure Rule went into effect, HousingWire followed up with Sharon Voss, president of the Orlando Regional Realtor Association, to discuss how the new rule from the Consumer Financial Protection Bureau is impacting real estate transactions so far.
HousingWire: How have Realtors adjusted to the new TRID rules so far?
Voss: Realtors across the board have made a smooth adjustment to the new TRID rules as a result of the extensive preparation that has been provided to them. Realtor associations, real estate brokerages, and even service providers such as lenders and title companies offered tons of free training well ahead of the implementation date (and continue to do so). In fact, a survey by the National Association of Realtor showed that more than 80 percent of all Realtor had already received training about the new mortgage disclosure rules prior to implementation. Read Full Article Here >> 


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