{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.getloans.com\/blog\/trid-guidelines-slow-loan-process\/#BlogPosting","mainEntityOfPage":"https:\/\/www.getloans.com\/blog\/trid-guidelines-slow-loan-process\/","headline":"What Are TRID Guidelines And Why Do They Slow Down The Loan Process?","name":"What Are TRID Guidelines And Why Do They Slow Down The Loan Process?","description":"Hello. Today I wanted to talk about some guideline changes called TRID. Which stands for, TILA \u00adRESPA Integrated Disclosures. The feds have mandated these changes and they’ve really slowed down the loan transaction. So mortgage consumers have to be careful about the deadlines that they write into a sales contract. Deadlines in a sales contract […]","datePublished":"2016-04-13","dateModified":"2023-11-15","author":{"@type":"Person","@id":"https:\/\/www.getloans.com\/blog\/author\/brianm\/#Person","name":"brianm","url":"https:\/\/www.getloans.com\/blog\/author\/brianm\/","identifier":2,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/b03dd1a5c12d48f4023463adfa5dbd6d38ebf6f4d842bd8f8d55ec71cb0ca275?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/b03dd1a5c12d48f4023463adfa5dbd6d38ebf6f4d842bd8f8d55ec71cb0ca275?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Person","name":"Brian Martucci","image":{"@type":"ImageObject","@id":"https:\/\/www.getloans.com\/wp-content\/uploads\/2026\/06\/brianmartucci-getloans-logo2017.webp","url":"https:\/\/www.getloans.com\/wp-content\/uploads\/2026\/06\/brianmartucci-getloans-logo2017.webp","width":400,"height":70}},"url":"https:\/\/www.getloans.com\/blog\/trid-guidelines-slow-loan-process\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg","name":"TRID Guidelines and the Mortgage Process | Brian Martucci Mortgage Lender","description":"http:\/\/www.GetLoans.com | This video talks about some mortgage loan guideline changes called TRID. The Feds have mandated these changes and have really slowed down the loan transaction so a mortgage consumer has to be careful about the deadlines they write into a sales contract. When making an offer to a seller there are three things you are going to target for dates in the contract:\n1. The appraisal contingency release date\n2. The financing contingency release date\n3. The closing date\n\nPrior to the TRID changes that took place in October 2015, Brian would recommend clients write offers using these dates: 14, 21 and 30. Now, TRID has mandated that the lender has to get the final numbers to the consumer three full days prior to settlement. The closing disclosure has to go out three days prior to closing and this tacks time onto the transaction. These TRID guideline changes make it more difficult to close in 30 days than it was previously. \n\nKnow that when you aim to close in 30 days you will have to do the loan application quickly, sign disclosures quickly, send in supporting documents quickly, and reply to any lender requests right away. Just be careful and talk to your lender before you write dates into a contract and commit yourself as they are binding contractual obligations. A lot of consideration must be taken into account. What is your own schedule? What is the lender's timeline like? What can everyone, together, ensure that they can deliver on for the contract. Be sure to talk to all parties to get it right.\n\nGet to know Brian Martucci, a mortgage lender serving all 50 states and Washington D.C. Visit Brian's blog today for valuable insights into the mortgage industry, home-buying advice, and mortgage loan information: http:\/\/www.GetLoans.com\/Blog\n\nCheck out my client reviews and happy mortgage loan customers: \nZillow (162 Reviews):  http:\/\/bit.ly\/BrianMartucciZillowReviews\nGoogle (75 Reviews):  http:\/\/bit.ly\/BrianMartucciGoogleReviews\nYelp (82 Reviews):  http:\/\/bit.ly\/BrianMartucciYelpReviews\nFacebook (28 Reviews):  http:\/\/bit.ly\/BrianMartucciFacebookReviews\nLinkedIn (12 Reviews):  http:\/\/bit.ly\/BrianMartucciLinkedInReviews\n\nBrian Martucci is a mortgage lender with a proven track record of helping his clients in mortgage success. Visit Brian's website to get started with a home loan today! http:\/\/www.GetLoans.com","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/3BfZQ-264cg\/default.jpg","https:\/\/i.ytimg.com\/vi\/3BfZQ-264cg\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/3BfZQ-264cg\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/3BfZQ-264cg\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/3BfZQ-264cg\/maxresdefault.jpg"],"uploadDate":"2016-02-10T23:08:10+00:00","duration":"PT3M56S","embedUrl":"https:\/\/www.youtube.com\/embed\/3BfZQ-264cg","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCtzgXcFj13brckkNS9QLR2w#Organization","url":"https:\/\/www.youtube.com\/channel\/UCtzgXcFj13brckkNS9QLR2w","name":"Brian Martucci, Mortgage Lender","description":"Brian Martucci Mortgage Lending is a direct lender for home buyers seeking a mortgage, or homeowners looking to refinance a home. Brian Martucci Mortgage Lending serves all 50 states and is in the top 1\/10th of 1% off all loan officers nationwide. \n\nIn the mortgage industry since 1986, Brian Martucci offers a loan experience that's hard to beat!\n\n-We choose between multiple lending sources, which provides you competitive pricing.\n-As a direct lender, everything is done completely in-house, which is critical to a smooth transaction.\n-Float Downs are offered to secure better terms if pricing drops after the loan process has started.\n-We provide an online Loan Status Tool to keep you informed during every step of the loan process.\n-Only local appraisers are used.\n\nLearn more about how I can help you with your home loan by visiting https:\/\/GetLoans.com today! Or, contact me via email at: Brian@GetLoans.com.","logo":{"url":"https:\/\/yt3.ggpht.com\/ytc\/AIdro_n9Lk7Lj7LtzCXKu_peXAYB-hP5gJ-AkBasJ0Uorx_jww=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":545}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=3BfZQ-264cg#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":5}]},"about":["Loan Process","Underwriting Rules","Video"],"wordCount":664,"articleBody":"Hello. Today I wanted to talk about some guideline changes called TRID. Which stands for, TILA \u00adRESPA Integrated Disclosures. The feds have mandated these changes and they’ve really slowed down the loan transaction. So mortgage consumers have to be careful about the deadlines that they write into a sales contract.Deadlines in a sales contractWhen you’re making an offer to a seller, there’s three things that you’re going to target for dates in the contract. One is, the appraisal contingency release date. The second one is the financing contingency release date. And the third one is the closing date. So it used to be before the TRID changes that took place October, 2015 that I would try and get people to write offers using the following dates: 14, 21, and 30. Meaning, 14 days to release the appraisal contingency, then seven more or 21 total to release the financing contingency, and then thirty days to close.See my previous, recent TRID blog here.New guidelinesWell now TRID has mandated a couple of things. One, the lender has got to get the final numbers to the consumer three full days prior to settlement. The closing disclosure is the form formerly called the HUD\u00ad1 Settlement Statement. Now it’s called the Closing Disclosure, the CD. We have to get the CD out three days prior to closing. That’s something that honestly used to happen the day before closing. Or the morning of closing. To have a closing happen in 30 days, which is blazing fast, we’ve really needed almost all of that 30 days. Well now, to ask us to do that three days prior to closing, that tacks time onto the transaction. Also, we’re not allowed to order the appraisal until the consumer has been disclosed to as evidenced by receipt of their signed disclosures.Parts of the loan process affectedSo day one is loan application. We’ll probably get the loan disclosures out to the consumer day two. They may need a day or so to review the disclosures and return them, that’s day three. Then we order the appraisal. So now, we’re taking to day three to order the appraisal. Which is something I used to be able to do on day one. And we need to get the closing disclosure to the consumer three days prior to the settlement date. That’s a bunch of extra time. We really need more time now.Realtors and lenders often at oddsNow…there’s a conflict between realtors and lenders. The realtors still want do things in 30 days. It’s possible, but the faster that you offer a seller to go to settlement, the more pressure that you’re putting on yourself and the transaction. The mortgage borrowers are tightly integrated with the process. So you’ve got to do the loan application quickly. And you have to sign the disclosures quickly. Then you’ve got to get in all of your supporting documents quickly.You’ve got to respond quickly to every single request that the lender makes.I mean, same day, drop everything. Get it done. And a lot of times people just don’t have that time. Which is understandable. We have jobs and lives and family and commitment and travel. So just be really careful. Talk to your lender before you write any of these dates into a contract and commit yourself. There will be quite an uproar if you miss these dates. These are contractual obligations that you must make and a lot of consideration has to be taken into account. What’s your own schedule? What’s the lenders timelines like? And what can everybody together ensure that they can deliver on in the contract? Make sure you talk to all parties involved, and get it right. Thanks.To contact me to discuss your mortgage scenario, mortgage rates, or other mortgage questions,\u00a0click here to schedule a call\u00a0or you can\u00a0email me\u00a0directly."}