Last October, TRID was enacted to regulate the mortgage process. With new rules, regulations, and timelines, many people feared that it would take longer to close a mortgage.
Although many people worried that TRID would prolong the mortgage process, it hasn’t added much time to mortgage closings for the better lenders. Although TRID made the mortgage process more complex, the companies that have always done well will continue to do well while the companies that used to struggle will continue to struggle. We see this as a great opportunity to separate ourselves from the competition.
As a consumer or referral partner, TRID reinforces the fact that you want to work with a great mortgage professional when buying a home.
In February 2016, the official industry standard was an average of 47 days to close a mortgage purchase. Many lenders can close much quicker. Our Newtown Branch average close time is 28 days. By working with us, you can cut that industry standard (47 days) in half. We have no trouble hitting deadlines thanks to our great underwriting and processing team. Everyone's goal in our branch is to meet or exceed closing dates.
We like to meet and exceed deadlines to raise the bar. We have even closed in 17 days post-TRID. That is not standard, but we can absolutely close in 20 to 25 days if you need us to. As the market heats up and multiple offers are more common, our quick closing time is a significant competitive advantage to you.
Keep in mind that every loan is unique. If you have very complex tax returns or extenuating circumstances, it’s always a good idea to check first. However, in a vast majority of situations we can close in 30 days or less.
If you have any questions, give us a call or send us an email. We would be happy to help you!
Although many people worried that TRID would prolong the mortgage process, it hasn’t added much time to mortgage closings for the better lenders. Although TRID made the mortgage process more complex, the companies that have always done well will continue to do well while the companies that used to struggle will continue to struggle. We see this as a great opportunity to separate ourselves from the competition.
As a consumer or referral partner, TRID reinforces the fact that you want to work with a great mortgage professional when buying a home.
In February 2016, the official industry standard was an average of 47 days to close a mortgage purchase. Many lenders can close much quicker. Our Newtown Branch average close time is 28 days. By working with us, you can cut that industry standard (47 days) in half. We have no trouble hitting deadlines thanks to our great underwriting and processing team. Everyone's goal in our branch is to meet or exceed closing dates.
We like to meet and exceed deadlines to raise the bar. We have even closed in 17 days post-TRID. That is not standard, but we can absolutely close in 20 to 25 days if you need us to. As the market heats up and multiple offers are more common, our quick closing time is a significant competitive advantage to you.
Keep in mind that every loan is unique. If you have very complex tax returns or extenuating circumstances, it’s always a good idea to check first. However, in a vast majority of situations we can close in 30 days or less.
If you have any questions, give us a call or send us an email. We would be happy to help you!
