“Many Lenders Struggling with TRID Implementation”

“Many Lenders Struggling with TRID Implementation”



To say that lenders were prepared in just a bunch of hogwash, but slowly but surely most are working through the issues. To say the least, that means that some clients are getting frustrated.


I have been on the phone with a number of lenders going over issues and often when I ask a question, the answer is we just don’t know. That doesn’t give me a warm and fuzzy. The result of some of this meant that I was going to reduce the number of lenders that I do business with, as some are very proactive and work on correcting the problems more than others.


I have done a number of applications since Oct 3rd, the rollout date of the “new and improved” guidelines. These new guidelines are for the benefit of the consumer but none I have talked to think so at all.


OK, let me share with you that I like the new forms, in the long run once everyone is totally fluent with the process it will all work much better. One immediate benefit, as soon as the Loan Estimate and the application have been completed we can immediately order the appraisal. Getting the appraisal ordered early on in the process is much better than waiting.


Yesterday I took a new application, it took me 90 minutes. I wouldn’t tell you how long it took me to do the first couple that I did.


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Comment balloon 33 commentsJoe Petrowsky • October 30 2015 11:58AM


Joe: Like all new processes, there will be growing pangs, which unfortunately means additional delays for consumers.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (Coldwell Banker Access Realty ~ 478.960.8055) about 5 years ago

We've heard "I don't know yet" also...and from attorneys too who are struggling with it!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) about 5 years ago

Hi Joe.  Wow!  It took you 90 minutes to do an application. That's incredible.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 5 years ago

Good morning Joe. With government work it becomes easier with repetition. You are on your way. The question is, are the lenders? Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 5 years ago

Hi Joe.  The first of the TRID closings should be coming up soon.  This is when we will start hearing some stories.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 5 years ago

Good morning Joe. Like everything, I am sure that this will get easier.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) about 5 years ago

Hopefully, things will run smoother a month from now, and even better a month after that.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) about 5 years ago

Joe - I have heard that comment, "We don't know yet" a lot.  I hear it all the time with the healthcare law so this is no surprise that you are hearing the same with TRID.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) about 5 years ago

On our side as agents we need to make sure that we rely on good lenders! 

Posted by Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC (Keller Williams Capital Properties) about 5 years ago

Good morning Joe. One thing for sure they had better learn to like it and get with the program or perish.  Didn't say I like it but so far so good. 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 5 years ago

Good morning Joe,

As with any government involvement it takes longer to do something that should be so simple.

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) about 5 years ago

Hello Joe.  People like yourself who stepped up and knew the importance of educating themselves have created a huge benefit for clients.  Unfortunately for you and clients the ones who have not are creating huge frustration beyond the obvious changes.  Mark

Posted by Mark Don McInnes, Sandpoint, North Idaho Real Estate - 208-255.6227 about 5 years ago

It is obvious when you are out and about in the market...who did their "home work" and who did not on this issue.

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) about 5 years ago

Good morning Joe Petrowsky,

Sally K. & David L. Hanson is right some lenders did their home work and others have not. It's going to be an interesting ride these next 6 months getting everyone on board with the new way of doing business!!!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker Realty ~ 512.750.6899) about 5 years ago

Hopefully, the lenders are ready.... and are ready to roll. But, as you know whenever the government is involved...we might have some havoc.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate about 5 years ago

Any time there is something new to learn, it takes adjusting.  It will be routine in no time for you Joe.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 5 years ago

It is growing pains and I like you think once all the kinks are worked out it will be fine. I haven't seen any of the behind the scenes struggles. Maybe they are few in my area.

Posted by Debbie Reynolds, C21 Platinum Properties, The Dedicated Clarksville TN Realtor-(931)320-6730 (Platinum Properties- (931)771-9070) about 5 years ago

Joe Petrowsky Change happens. I have no opinion on the whether these changes are good or bad, but they need to be learned quickly.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) about 5 years ago

Well, I suppose there is going to be an adjustment period for any new changes.

Posted by Ralph Gorgoglione, Hawaii and California Real Estate (310) 497-9407 (Maui Life Homes / Metro Life Homes) about 5 years ago

Good Morning Joe: I am anxious to hear feedback, good or bad from all parties... We are going to review the CFPB addendum on Wednesday. I can't wait to hear my colleagues stories.

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) about 5 years ago

Good morning, Joe -- I had the same thought as Gabe Sanders --- we should be hearing a lot more stories as TRID enters its second month.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 5 years ago

This is a good reminder that many will expect delays in settlement until everybody is comfortable with the new procedures. Our favorite title company keeps telling us that there still many unknowns on what lenders will be doing.

Posted by Roy Kelley (Realty Group Referrals) about 5 years ago

Joe, it is a shame that so many are not prepared and do not know. Those who prepared and getting the clear to close.  We just got clear to close on our first TRID ... 20 days from the date the offer was provided to the lender. 

Posted by Kathleen Daniels, Probate & Trust Specialist, Probate Real Estate (KD Realty - 408.972.1822) about 5 years ago

Hi Joe, not every lender has the knowledge but hope they will soon. I am waiting for some interesting strories in December.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) about 5 years ago

Hi Joe... not surprised to hear you say this. I've had a couple of TRID loans that are closing in 30-35 days with one of my best lenders. But the big banks (Wells, BofA, Chase, etc.) are telling us not to write contract of under 60 days. And that's crazy in a market where we have traditionally closed in about 30-35 days.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) about 5 years ago

Well Joe, it will be interesting to see how TRID really benefits the consumer by waiting a longer time to close to.

Posted by Ginny Gorman, Homes for Sale in Southern RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) about 5 years ago


I knew you would be ready to do the job.  Some people fell that being prepared is not for them, and they hope they will get by!  It is so true of everything in life, isn't it.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 5 years ago

Joe the issues we have had has been with the software, but we have identified the mistakes quickly and have been making the necessary corrections.  The government loans have been the biggest challenge with the way the UpFront and Funding Fees have been populating into the LE. 

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 5 years ago

We prepared for TRID and so far (where's that piece of wood, knock, knock) I haven't had any problems with a closing.

Posted by DEANNA C. SMITH CERTIFIED MOBILE NOTARY, Highest Ranked Certified Mobile Notary in Virginia (Certified Mobile Notary Signing Agent) about 5 years ago

Definitely a learning process! We are always growing and changing!

Posted by The Julie Morales Team, Real Estate Questions? Call (832) 367-3412 (RE/MAX Cinco Ranch) about 5 years ago

I have a couple of closings coming up from offers I've written after TRID (dirt spelled backwards) went into effect. I want to make sure they are on board and are prepared. So far they all seem to be on board. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) about 5 years ago


Your insight is right on point . . . . on the TRID implementation.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 5 years ago

Joe Petrowsky   As with anything new being implemented, the cream will rise to the top of the field...you are the cream.  Other lenders...skim milk

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) about 5 years ago