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Big Changes are Here!!

Posted by:  Poli Mortgage Group
2015-10-05 13:10:13

Out with the Old and in with the New....
What Does This Mean?
Whether you’re a homebuyer or a mortgage professional, changes are coming quickly in the
form of “TRID” that will impact us all effective October 3rd, 2015, and Poli Mortgage is
prepared to ensure the transition whether consumer or professional is effortless. TRID, aka,
TILA‐RESPA Integrated Disclosures, is the replacement of the old Good Faith Estimate and
HUD‐1 Settlement statement to the new “Loan Estimate” and the “Closing Disclosure”. What
this means is you the consumer will get a clear and concise break down of the cost associated
with the loan, from initial application to the required 3 days prior to the closing, which will
include all parties from lender, realtor agent(s) and sellers, if applicable so you are prepared
ahead going to the closing table.
As stated, Poli is ready for TRID and have internal procedures in place to ensure all documents
are delivered in advanced to the closing date and will work closely with all parties to deliver to
ensure smooth delivery and as always excellent customer service. Should you have any
questions, and want to discuss the further implications of TRID please feel free to reach out to
one of many mortgage experts.
For more detailed look at TRID and how it affects you, the consumer and the mortgage industry


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