http://fwd5.wistia.com/medias/t0hgn9hgqy?embedType=iframe&videoFoam=true&videoWidth=640 “Business day” is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count as Read More

http://fwd5.wistia.com/medias/fwmynfenoy?embedType=iframe&videoFoam=true&videoWidth=640 If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within 3 business days. If they determine that your application Read More

http://fwd5.wistia.com/medias/8svfpsuhbj?embedType=iframe&videoFoam=true&videoWidth=640 In addition to the required pieces: Name Income Social Security Number Property Address Estimated Property Value Mortgage Amount Sought A creditor may collect whatever additional information they deem necessary. Read More

http://fwd5.wistia.com/medias/wsurmuqj0e?embedType=iframe&videoFoam=true&videoWidth=640 Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount sought constitutes a valid loan application under the TRID Read More

http://fwd5.wistia.com/medias/8ewifagtbz?embedType=iframe&videoFoam=true&videoWidth=640 Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached dwelling loans and others NOT Read More

http://fwd5.wistia.com/medias/h7h1l6c4ut?embedType=iframe&videoFoam=true&videoWidth=640 TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and loans secured by vacant land or by Read More

http://fwd5.wistia.com/medias/o35u1lh6ig?embedType=iframe&videoFoam=true&videoWidth=640 Federal “disclosure” forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of Oct 1, 2015 lenders must provide TWO New “TRID” Read More