TRID Now In Full Swing For Home Purchases

TRID Now In Full Swing For Home Purchases

Image titleThe transition to TRID is going smoothly for most lenders, buyers & sellers.  TRID took effect on Oct 3, 2015 and has slowed down the loan process slightly.

Under the changes, the Good Faith Estimate was replaced with a Loan Estimate (LE) and the HUD-1 Settlement Form was replaced by a Closing Disclosure (CD). The Closing Disclosure must be given to buyers at least three days before closing to give them a chance to review the final numbers. This is obviously great for consumers (buyers) as they can compare their LE with CD to make sure closing figures have not changed significantly. As with all changes in the home buying process, there was much trepidation throughout the industry about the possible impact on home purchases and closings. 

The key to making sure you have a smooth escrow and minimal delays from our perspective is choosing to work with a strong lender who has already taken proactive steps to ensure TRID has minimal to no impact on your closing time frames. Many of the local direct lenders have taken this approach and for the most part have nullified the impact of TRID on time frames to close. 

Just recently we closed escrow with an out of area lender who was not prepared nor well versed in the TRID nuances and this resulted in a full one week delay in closing. By industry standards that is a long and unacceptable delay, especially when it could have been avoided. 

Choosing a solid, reputable lender is crucial and should be given significant consideration before moving forward with lender who may not be well versed in the new changes and not prepared to navigate the new closing process.

For more information on TRID, you can go to Consumer Financial Protection Bureau website run by the U.S. Government You can also click the website sample down below to navigate to the site for more information.

If you are thinking about buying or selling, please give us a call. Year over year we have been ranked as one of the top teams for Keller Williams Realty throughout all of California and we would be happy to put our expertise and track record to work for you. 

On the city links below you can see all active inventory for the following key bay area cities:

 Walnut Creek, Pleasant Hill, Martinez, Alamo, Lafayette, San Ramon, Danville, Orinda, Moraga, Concord,Brentwood, Oakland, Fremont, Pleasanton, Dublin, Livermore, Hayward & Castro Valley 

The EastBayPro Team would like to thank our numerous clients and friends this year for trusting in us and most of all wish you and your family a wonderful Thanksgiving Holiday! 

You can reach our team members at 925-304-6346 - Kevin R Kieffer, Broker Associate - Team Leader for Keller Williams Realty's EastBayPro Team - Our team members include Naomi T Kieffer, Matt Rubenstein, Dana Grant, David P Johnson, Heather Gowdy, Jamie Duvnjak, Scott Maher, Nina Kasper-White & Ken Wilson - Please call and "Let Us Exceed Your Expectations".

Image title

Kevin Kieffer Headshot
Phone: 925-300-8000
Dated: November 18th 2015
Views: 291
About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Keller Williams Realty. His focus is the Eas...

Property Search

Chat with us now!

A real live chat operator is online now! We can immediately get your questions answered or make sure we get it to an agent who can.

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

TRID Now In Full Swing For Home Purchases - The transition to TRID is going
Fall Back This Sunday November 1st Reminder To Set Your Clocks Back - Just a friendly reminder to be sure
Labor Day Holiday Creates A Pause In Bay Area Inventory - Labor Day is coming up soon and is q
Mid Summer Market Update For Bay Area Real Estate - Although there is much talk of rates

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Kevin Kieffer
Offices throughout the East Bay!
Top 1% in Bay Area,

Other Locations