Home buyers are beginning to have close encounters with a new force trying to slow them down.
It's called TRID, and if you haven't experienced it yet, consider yourself lucky.
Those you have lived with TRID now know. It's a bit like sleeping with a big, smelly bear. It may be a beautiful creature, but the damn thing just won't move.
Come again, you say?
TRID is a set of new mortgage regulations. The acronym TRID is short for "TILA-RESPA Integrated Disclosure Rule." (Not that you're expected to remember that.)
More disclosures, more transparency. Not bad, right?
Nowadays, it is TRID, and the fear of TRID, that has mortgage lenders slowing drastically in heir tracks, doing everything twice, and twice as slow. (Or worse.)