The Scary Issue Title Companies are Seeing with TRID Closings

TRID ClosingsWe are now 6+ weeks into the new TRID/CFPB regulations, and Stewart Title is starting to have a steady stream of TRID closings.  Many of the TRID closings have gone smooth and several still within the 30-35 day window lenders usually need.  Those are the good things.  The not so good things, are loan officers not fully educated on the process, issues with the lender completing the Closing Disclosure (CD) and the extra work hours that are being spent on the files due to this. Many Realtors are also not up to date on the procedures and wondering why their closings might possibly be delayed. There is also another issue we are starting to see with TRID closings, which we hope does not become a pattern.  This is something that is being seen not only by us, but other title competitors in the local Northern Virginia/Washington DC market.