Browsing Posts In: TRID

March 27, 2017 Posted by: Ken Fears, Director, Regional Economics and Housing Finance

Refinancing soared in 2015 and 2016 as rates fell, while burgeoning home sales pushed over the five million sales mark and the TRID regulation was implemented. In this environment, anecdotes of delayed closing, difficulties getting appraisals and even “rush” fees for quick turn-around appraisals began to percolate. Is this a short-term problem or something more? […]

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March 9, 2017 Posted by: Scholastica (Gay) Cororaton, Research Economist

In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the past three months, think of your most recent sales contract that was either settled/closed or terminated. Please explain how the deal concluded (settled, delayed, terminated, sale is pending, no contract signed).” Among respondents who had a contract that went into […]

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Posted by: Scholastica (Gay) Cororaton, Research Economist

In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the past three months, think of your most recent sales contract that was either settled/closed or terminated. Please explain how the deal concluded (settled, delayed, terminated, sale is pending, no contract signed).” Among respondents who had a contract that went into […]

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January 23, 2017 Posted by: Ken Fears, Director, Regional Economics and Housing Finance

On Friday, the new administration suspended a 25 basis point fee reduction that the past administration announced on the 9th of January. NAR research estimated that the fee reduction would have benefited 750,000 to 850,000 homebuyers in 2017 who’s mortgages were backed by the FHA. In addition, it would have opened homeownership to an additional […]

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January 17, 2017 Posted by: Ken Fears, Director, Regional Economics and Housing Finance

A year after TRID, lenders show signs of growing optimism. The TRID or the Know Before You Owe rules were implemented in October of 2015 and indented to streamline and safeguard consumers in the closing process. Delays and closing times leapt in the wake of the change, but eased to a lower, but elevated plateau. […]

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Posted by: Ken Fears, Director, Regional Economics and Housing Finance

A year after TRID, lenders show signs of growing optimism. The TRID or the Know Before You Owe rules were implemented in October of 2015 and indented to streamline and safeguard consumers in the closing process. Delays and closing times leapt in the wake of the change, but eased to a lower, but elevated plateau. […]

... Read More

December 13, 2016 Posted by: Ken Fears, Director, Regional Economics and Housing Finance

NAR Research began tracking closing delays following the implementation of the TRID or Know Before You Owe rules. These rules changed the settlement process adding new closing documents, tolerances for fees, and timelines. The time-to-close a loan, the period from contract to settlement, fell 0.3 days in November relative to the same time in 2015, […]

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Posted by: Ken Fears, Director, Regional Economics and Housing Finance

NAR Research began tracking closing delays following the implementation of the TRID or Know Before You Owe rules. These rules changed the settlement process adding new closing documents, tolerances for fees, and timelines. The time-to-close a loan, the period from contract to settlement, fell 0.3 days in November relative to the same time in 2015, […]

... Read More

November 18, 2016 Posted by: Ken Fears, Director, Regional Economics and Housing Finance

The housing finance market continues to normalize in the way of TRID and Brexit related delays. The average delay in time-to-close (TTC), the time from when a sale goes under contract to settlement, eased from 3.4 days in September to 2.8 days in October. Furthermore, the moderation was driven by a shift from settlements that […]

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Posted by: Ken Fears, Director, Regional Economics and Housing Finance

The housing finance market continues to normalize in the way of TRID and Brexit related delays. The average delay in time-to-close (TTC), the time from when a sale goes under contract to settlement, eased from 3.4 days in September to 2.8 days in October. Furthermore, the moderation was driven by a shift from settlements that […]

... Read More