The Impact of TRID Debated Within The Industry; Training and Events

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Posted To: Pipeline Press

Research by RealtyTrac finds the percentage of homes that were bought and sold within 12 months (i.e. flipped) soared to 5.5% of all homes, reaching a 10 year high. Shame “flipped” has the connotation that it does. Even inside the industry we can’t agree on the impact of TRID . Ellie Mae’s February Monthly Origination Insight Report, released last week, showed a significant drop in loan closing times from 50 days to 46 days. The report also indicated that credit was easing given the increase in closing rate from 68.4% to 69.9%. But wait – the MBA’s fourth quarter survey of independent mortgage banks (and mortgage subsidiaries of chartered banks) found a drop in profitability from $1,238 per loan in the third quarter of 2015 to $493 in the fourth – down 60%! The MBA’s Marina Walsh…(read more)

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