JPMorgan Chase weighed in on the implementation of TRID during its fourth-quarter conference, shedding light on where big banks stand on the issue.

During that call, Marianne Lake, chief financial officer of JPMorgan Chase, was asked if TRID had any impact on operations in the mortgage bank. Check here for a full earnings call transcript on Seeking Alpha.

Lake started by saying, “So, yes, obviously it was [a factor].”

“I would say in the quarter we did as part of being cautious about making sure that we're complying. Our cycle times were a couple days, few days worsened,” she said.

The impact of closing delays was felt across the industry. In December, Jonathan Corr, president and CEO of Ellie Mae, said that the company was beginning to see the anticipated impacts of the Know Before You Owe changes.

He noted that the average time to close a loan increased by three days to 49 total days in November, the longest time to close since February of 2013.

While Lake said that the bank’s origination volumes are a little lower than it would have otherwise seen, TRID did little to impact the bottom line.

Lake explained that TRID didn’t really impact the bank too much from a financial results perspective because of the way the bank recognizes revenue.

For the fourth quarter, JPMorgan Chase recorded net income of $5.4 billion, or $1.32 per share, up 10% from $4.9 billon, or $1.19 per share, in the fourth quarter of 2014.

Mortgage banking net income fell 21% to $266 million, while net revenue declined 10% to $1.7 billion.  

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