Blair Cato has done several closings under the new TRID. We have already seen several TRID closings delayed because the lender did not have all of the information needed to complete and deliver the Closing Disclosure Statement in the timeframe required by the CFPB. This is a reminder that you must get all invoices, addendum, changes in commission or any other information you have to the lender and closing attorney in advance. Your policy should be to give the lender and closing attorney more information than they need. If the lender or closing attorney has to call you for the information it probably is too late and could result in a closing delay. The good news is other than last minute requests for information, I have found the new closing statement and Closing Disclosure to be working fine.
Today’s historical fact. As you probably guessed Washington Street is named for President George Washington. But what you may not have known is Lady Street was named in honor of his wife, Martha Washington, as she was known to be “George’s lady.”
Have a great weekend.