I am sure you have seen the post by Title companies, Lenders and training companies on the impending new TRID regulations. How will this change the way you do business? Will it make life more complex? Will it cause delays? The answers to all of this is a solid MAYBE. I know that sounds non committal but let me explain. First you have a new regulations, set of forms and new responsibilities with a new order of doing things all set forth by the government (I know whats not to love). So yes there will be missteps here and there. None will be life altering unless a lender really screws up and gets a huge fine by CFPB. So the basics are that lenders now have to produce 2 different forms, one an est and one a closing document that will compare the initial est to the closing and make sure it is with in tolerances and must be done well in advance of the closing date (this is of course the same steps but now they are done in advance of drawing closing documents.). As long as the lender is upfront and accurate in the prep of the initial estimate of fees and there is no changes (example – the seller is now asked by the buyer after prep of the initial estimate for credit to apply to escrow or loan cost.) then all is as was and it moves to closing. If there is a change then a new closing disc. form is required and a waiting period is imposed. After the waiting period the loan my close. I know it is as clear as mud to many but in essence we are doing the same thing but we need to do it sooner in the loan process to make sure that the closing goes smooth.