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First TRID effects felt

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Mortgage Professional America | 14 Oct 2015, 04:16 PM Agree 0
The new rule had a major impact on mortgage applications for the week following implementation
  • | | 14 Oct 2015, 05:12 PM Agree 0
    It is not protecting our Sellers! How are they supposed to plan with moving companies??!!
  • | | 14 Oct 2015, 07:08 PM Agree 0
    TRID is a TURD ... bottom line all it has done is convoluted the mortgage process and will cost the consumer more in the long run ... ridiculous to have people that have never been in the mortgage industry setting new guidelines only to cause a negative ... the lending industry is a total joke now.
  • Gordon Miller | | 14 Oct 2015, 07:49 PM Agree 0
    Increased costs are the other big negative . Closing fees are up 100%. Surprised all banks aren't exempt. Just go ahead and get rid of us evil brokers already
  • | | 15 Oct 2015, 11:33 AM Agree 0
    First it was a new simplified GFE that did not have things itemized. So we print that and customers still want an Itemization. NOW we have TRID, which does nothing but increase paperwork, confuse customers, and take a long process and draws it out even more. Honestly I think this is an attack on the industry. I think that the amount penalties and fines for the business as a whole with regulators, NMLS etc has been much lower than expected, and funds to cover NMLS and enforcing the new regulations is not there. TRID may be a way to find issues and fines they could not before , and in return generate more revenue to pay for themselves. ITS all BS. It has nothing to do with protecting the consumer, it has to do with taking a bad idea, and trying to find ways to fund more bad ideas. Just an opinion. Its all politics. We get the right president in their to repeal/reform these regulations EVERYONE will win.
  • | | 15 Oct 2015, 01:58 PM Agree 0
    This is just one more thing we as brokers and mortgage lenders now have to put up with as if this business was not hard enough as it is. Just another hurdle we have to jump through. Why do we or anyone need steps to do to close our transaction. What a waste!!!!!!!!!!!!!!!!!!
  • mortgage mike | | 15 Oct 2015, 04:56 PM Agree 0
    TRID spelled backwards spells DIRT, which is what seems to be filling the entire industry as of late.
  • ISABEL OMALLEY | | 15 Oct 2015, 06:44 PM Agree 0
  • Remax Mike | | 28 Oct 2015, 02:41 PM Agree 0
    Obamacare meet Obamamortgage. Its just beginning folks. Its full effects will be felt after the current administration is long gone.
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