TRID is here! After a last minute reprieve in August (giving us all plenty of time to get ready – hah!) the inevitable implementation of TRID on October 3, 2015 really happened. Do you remember the angst of 12/31/1999? When there was uncertainty as to whether our infrastructure would collapse thanks to obsolete date coding in computer programs? Well October 2, 2015 felt a little like that.

And just like on January 1, 2000, the world did not end on October 3, 2015. Yes this new process for closing loans is in many ways a radical departure from old ways of doing things, but it hasn’t been as troublesome as we thought it might be. Closings are not (for the most part) delayed and the new work flows have the virtue of avoiding those awful, last-minute, “HUD-dances” (I called them) with the loan closer and the attorney frantically trying to get the numbers “right” while the closing party waited in the conference room. That didn’t happen with all lenders, but it happened more often than anyone liked.

Those days, blessedly, seem to be over! And that’s good news for all of us.