Since it became effective October 3, 2015, many within the real estate industry have reported their experiences of implementing the TILA-RESPA Integrated Disclosure (TRID) rule as having a bumpy start. One of the most frequently noted issues by lenders, real estate agents, and title companies alike is that TRID has caused delays in closings. But, that is only one of a handful of hurdles real estate professionals are saying they face with TRID.
RISMedia shares the highlights of the American Bankers Association’s (ABA) 2016 ABA TRID Survey which polled 548 banks on how TRID compliance is affecting their closing timelines and their ability to provide a variety of loan products. In addition to the survey results, the article includes feedback from two real estate agencies regarding TRID’s impact on their role in the home buying process. Read the full article at http://bit.ly/21lb1ZA.