Purchases: Cutoff time for next day CD delivery is:
3:00pm local time
Refinances: Cuttoff time for next day CD delivery is:
12:00pm local time
CURRENT UNDERWRITING DATES:
|Jumbo Submitted On||11/23/2015|
|Purchases Submitted On||11/25/2015|
|Refinances Submitted On||11/25/2015|
For TRID Support
Call: 1.844.PCM.TRID (M-F, 8:30am-8pm EST)
21 DAYS…Registration to Close!
(2 November 2015)
We closed a TRID purchase loan last week...21 days after registration! We've closed TRID refinances too.
You can trust PCM with your TRID loans.
TRID Tips #7
(6 October 2015)
The Loan Estimate and Closing Disclosure must be used for most closed-end consumer mortgages.
Home equity lines of credit, reverse mortgages, or mortgages secured by a mobile home or by a dwelling that is not attached
to real property (i.e., land) must continue to use current disclosure
forms required by TILA and RESPA separately.
TRID Tips #6
(5 October 2015)
When there is a Changed Circumstance after the Loan Estimate has been provided, the creditor can revise the Loan Estimate within three business days.
A revised Loan Estimate generally can be provided no later than seven business days before consummation.
TRID Tips #5
(2 October 2015)
For purposes of providing the Loan Estimate, a business day is a day on which the creditor’s offices are open to the public for carrying out substantially all of its business functions.
For other purposes, including delivery of the Closing Disclosure, a business day means all calendar days except Sundays and legal, public holidays.
TRID Tips #4
(1 October 2015)
The six pieces of data that define a loan application are:
The consumer’s name
The consumer’s income
The consumer’s social security number to obtain a credit report
The property address
An estimate of the value of the property, and
The mortgage loan amount sought
TRID Tips #3
(30 September 2015)
The Loan Estimate must be delivered or placed in the mail no later than the third business day after the six pieces of data that defines an application ar received by the Loan Officer
TRID Tips #2
(29 September 2015)
The new Loan Estimate integrates and replaces the existing Good Faith Estimate and Truth-in-Lending disclosures.
TRID Tips #1
(28 September 2015)
TRID requires customers to have in their possession final closing figures on the new Closing Disclosure at least THREE business days prior to closing.