Items Tagged with 'Time to close a loan'


  • Chase guarantees it will close a mortgage in 21 days or it’ll give you $1,000

    Rolls out new loan closing guarantee program for customers
    Chase Home Lending now claims it can close on a borrower’s mortgage in as little as three weeks and it’s putting its money where its mouth is to back up that claim. Chase announced recently that it is rolling out a program called “Closing Guarantee” for its existing customers. Through the program, the bank promises to close a mortgage in 21 days, and if the bank doesn’t close on the loan in the timeframe, it will pay the borrower $1,000.
    Read More
  • Why does it take so long to close a loan? Appraisers

    Speakers at CoreLogic and Urban Institute housing summit say appraisals delay closing
    Recent data from Ellie Mae showed that it takes about a month and a half on average to close a mortgage. Several speakers at Wednesday’s housing summit hosted by the Urban Institute and CoreLogic said that closing times could conceivably be much shorter than that, even as little as 10 days. So what’s keeping lenders from closing a loan in a week and a half instead of a month and a half? Appraisers.
    Read More
  • The new normal: Time to close settles at 46 days

    Ellie Mae report suggests TRID issues are calming down
    After rising, falling, and rising again in the wake of the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule, the time to close a mortgage loan appears to finally be settling into a new normal – about a month and a half.
    Read More
  • Time to worry? Time to close a loan ticking back up

    Or is this the new normal?
    In the months immediately after the implementation of the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosures rule, the time to close a mortgage loan rose as the industry worked through the new and complex process surrounding the dissemination of loan information to borrowers. Since then, closing times fell, but now they're on the way back up, which begs the question: Is this the start of a trend? Or is this just the new normal?
    Read More
  • Ellie Mae CEO: Impacts of TRID starting to show

    Time to close a loan increasing
    In Ellie Mae's last report, Jonathan Corr, president and CEO of Ellie Mae, said that it was still too early to see the full impact of TRID. However, now that over two months have passed since the TILA-RESPA Integrated Disclose rule went into effect, the impact started to show in the closing data.
    Read More