Information About the New TRID Timelines

Filed under: TRID


There are some new TRID rules which are coming out, and one of the more important new rules focuses on the TRID timelines specifically.

There is concern that it will be the end of 30-day closings on purchase transactions, but at this point, we are just going to have to test out the new rules and see what occurs.

There is an initial disclosure that is going to go out. And, essentially any changes to the loan that do not benefit the borrower are now going to require a re-disclosure. This will become very important at the end of transactions because from the time a set of disclosures go out, there will be a mandatory three-day waiting period for electronic delivery or a seven-day waiting period for hard money or United States mail delivery. This could slow things down.

This can actually have a significant impact so we need to make sure everyone involved is extremely accurate with the all the numbers up front. Most of this already done and I don’t see this as a huge problem. Of course, there will be a few deals or transactions that will get tripped up, but that is expected and can’t be avoided.

My overall sense of these new timelines is that long term, we will all get used to the process and we are going to be fine!

Finally, the new TRID rules are going to be great for our clients, which will be great for everybody.

If you have any questions about the new TRID rules or anything else dealing with the mortgage industry, please give me a call and we can discuss whatever is on your mind.

Franklin Loan Center | NMLS 237653
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, 4131316
For questions or concerns please email