Subscribe to Answers
I'm using lenders with the smaller, more agile companies. I think that most of the issues are likely to be with the huge banks. We've had bunches of training sessions, and none of our guys are freaked out about it.
I hear it in surround sound. I'm telling buyers to work with good lenders and do what they say.
recommending lenders that are preparred is going to be what matters most.
Thomas J. Nelson, Realtor setting the right expectation is the key!
The best way is to tell our clients - things have changed so if it takes little extra time - please do not panic.
What am I doing to prepare?
Entering into my schedule every local Octoberfest in the event I need a German way to spell relief.
Thomas - My biggest suggestion to clients is to submit their information as soon as possible, and make sure everything is accurate. There will most likely be delays if anything needs to be adjusted.
I have an issue with the general statement of just extending the closing date. The problem is the disclosures and extensions needed for changes to the closing and no matter what your original closing date is, it may indeed be pushed back. So, in my mind, the best thing to do is advise clients that the closing may be delayed due to new rules and not make absolute plans on the proposed closing date. Also, I would try hard not to plan for simultaneous closings for those selling and buying.
im tone deaf.... and we cant seem to close on time to save our life anyway lol.. i think everyone will adjust. some agents will blame trid for the next year because of their mishaps
We adapt and move forward.
These problems always seem bigger when looking to the future than they do when looking back.