FROM OUR BLOG
November 19, 2015

If you pay attention to mortgage news, you’ve probably heard about TRID* and concerns over delays it could pose in the industry.

We’ve closed a handful of TRID transactions, and are actually excited about the process. Our entire staff has placed focus on each file timeline to ensure we’re hitting the proper milestones to issue the required documents on time. The best part is the focus is placed three days prior to closing opposed to the day before. All have happened in about 30 days, start to finish. Overall, the process has been a big improvement for customer service!

Below is an example of how we organize our transactions from day one to ensure we stay on pace.
This approach makes it easier to keep the buyer and all processes on target. If there are issues, we can now identify delays weeks ahead, opposed to the week or day of.

WHAT IS TRID?
TRID is the TILA / RESPA Integrated Disclosure Rule. TILA is the Truth in Lending Act and RESPA is the Real Estate Settlement Procedures Act.

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Sierra Pacific Mortgage Company, Inc.

Sierra Pacific Mortgage NMLS# 1788. Michael Shotnik NMLS: 218281, CO License: 100017466. Not licensed in Alaska or New York.  To check license status of mortgage loan originator, visit D.O.R.A. and NMLS consumer access.