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Totally! We've had a bunch of training on TRID and are ready to go.
Fair Oaks, CA
I dont think that it was as bad as people anticipated.
No, an individual agent without a team will have a lot of pressure to get more done in less time. A mistake will be costly and there will be mistakes early. I'm sure that it will all smooth out in time, it always has. In California we were worried when they made all contingencies to be removed in writing. It is now business as usual.
I am not ready...I don't believe there are very many who are and even less who TOTALLY understand what is going to come upon us.
John Meussner - this indeed is a game changer. More I learn about it and closer the effective date comes, more concerned I am.
I know everything will be back to normal - however, it's going to take time for most of us - mainly to change habits and be prepared.
Now I can't expect HUD to come in at 2 PM and close at 4 PM.
Good news is - being on ActiveRain with many experts here, I feel comfortable. Thanks for being there.
it will be interesting to see how this plays out initially....everyone will eventually blend into understanding the changes...
You bet. No more 30 day closings for a while.
No since it does not apply in Ontario.
Frankly I'm taking my q's from my favorite (he is ready) local lender and I'm excited to say he's been making sure packages were out for review 5 days prior to closing for MONTHS with 30 day closings. And I know some lenders are shaking in their boots and I have emails from them to back up my feelings. I will be showing those emails to buyers who want to use those "we're hoping for another time delay" lenders.
Yes I am ready and yesterday the new contracts forms were introduced that will gather the information needed about license numbers, etc. to go with the transaction.
Yes I am. I have a great Lender and we are educated.
I missed signing up with the class my broker was planning, but I had already signed up with a class at NVAR on Monday the 28th, so I should be good to go. Plus I have discussed it already with some lenders.
If you're an agent, have you been trained/informed on how this will affect your transactions? I've learned all I need to for now. The ball is in the hands of the lender, the contract language that keeps things on track for our clients is in my hands.
I have attended a seminar conducted by the title company I recommend and am confident that we will be as ready as possible. However, there will probably be settlement delays in the early months as everybody adjusts.
Hi John Meussner - I must confess, I've been busy and had my head in the sand. Maybe you could write a blog for Realtors on this?
am i tired already ?? yes i dont have to wait til the deadline to be tired already . :)
not til I go to that meeting..... Thanks for the reminder.....
Hi John - I AM! Are you? Its going to be a change we will all need to embrase. Ready or not, October 3rd is right aroung the corner.
No, but I am tired. Oh oops, I'm so tired that I misread that.