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ClosingCorp survey: 52 percent of lenders ‘off’ on initial home loan estimate

Posted by   /  February 16, 2017  /  No Comments

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And 35 percent of buyers were surprised by higher-than-expected closing costs

By Marian McPherson | inman

In October 2015, TRID — the TILA-RESPA Integrated Disclosure rule, or “Know Before You Owe” — was implemented to make the lending and mortgage process more transparent and easier to understand for consumers.

Although the rule has mainly achieved its goal, there are still some parts of the buying process that remain a bit of a mystery to buyers.

What’s surprising buyers at the closing table?

ClosingCorp, a provider of residential real estate closing cost data, released its latest survey, which shows buyers still need more education when it comes to the fees associated with closing on a home.

Continued:

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  • Published: 2 months ago on February 16, 2017
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  • Last Modified: February 16, 2017 @ 7:00 pm
  • Filed Under: Real Estate

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