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TRID lengthening closing timelines


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The average time to close on a mortgage was 49 days in November, the longest timeline since February 2013, according to Ellie Mae’s latest Origination Insight Report. Conventional and FHA loans each averaged 49 days, while VA loans averaged 50 days. The National Association of REALTORS has flagged the new RESPA-TILA "Know Before You Owe" mortgage regulations as the likely culprit for the longer closing times. Learn more here.
 

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Naylor Association Solutions
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 NEW YORK STATE ASSOCIATION OF REALTORS ® INC.
130 Washington Avenue
Albany, NY 12210-2220
518.463.0300
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