TRID lengthening closing times

Real Estate

TRID lengthening closing times

The average time to close on a mortgage was 49 days in November, the longest timeline since February 2013, according to Ellie Mae. The National Association of REALTORS® has flagged the new RESPA-TILA "Know Before You Owe" mortgage regulations, which took effect Oct. 3, as the likely culprit for the longer closing times.

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