The new TRID rules have placed a bigger burden, on not only real estate professionals, but the consumers it was supposed to be protecting. Everyone has a different interpretation of what the rules mean, therefore not only are consumers confused with the new regulations but it is also confusing to mortgage lenders. These new rules are also costing consumers more money. With the new delivery requirements, consumers are no longer able to close loans within 30 days. This would cost the average consumer $625.00 in extra fees to lock in a rate for 60 days instead of the customary 30 day rate lock. We ask that you repeal these regulations in order for real estate professionals to effectively do THEIR job again.
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