One Year Later, TRID Causes Frustration

By Ken Fears, Director, Regional Economics and Housing Finance NATIONAL ASSOCIATION OF REALTORS®

TRID, or the “Know Before You Owe” rules, were implemented on October 3, 2015. With a year of experience under TRID in hand, the National Association of REALTORS® surveyed its members for their perspective on the new process. While delays in the 3rd quarter of 2015 had fallen relative to the period immediately after implementation of the rule in the 4th quarter of 2015, cancellations inched upward. Members voiced frustrations with significant delays in the lending process and communication issues with lenders

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