Mixed reviews on new closing rules

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Kenneth Harney: Mixed reviews on new closing rules .. Be aware that the new rules are proving challenging for some lenders and title agencies and closings are taking longer. So when you shop.

 · Nevertheless, the unforeseen ripple effects from these changes could seriously disrupt how the closing process is conducted. Come August, there will be a new roadblock to closing.

The new disclosures will provide borrowers a better explanation of how much they will pay on a loan over its course, as well as a breakdown of closing costs. The major change to TRID rules is the requirement of a 3-day waiting period by borrowers prior to settlement/closing to receive hard copies of their closing documents in the mail.

New Home Closing Rules Take Effect Aug. 1.. NAHBNow is the official blog of the National Association of Home Builders and your one-stop source for home building industry news, product information and educational resources.. The News Blog of the National Association of Home Builders. All.

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How are home closings going nearly two months after the new federal real estate disclosure rules took effect? Are they being knocked off schedule and taking much longer from date of sale to final sett

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Check back each week of November for more about Closing the Sale in the CONNECT2Sell Blog. About the author: deb calvert has worked as a Corporate Director in a Fortune 500 company and as a consultant, coach and trainer to nearly 400 businesses of all sizes.

Lenders must give the closing disclosure form to consumers so that it is received a minimum of three business days prior to loan closing. If the lender makes one or more of three significant changes after the form has been provided to the consumer the lender must provide a new Closing Disclosure form along with another three-day waiting period.