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Home » Store » Inside the CFPB » Closing Times on Mortgaged Home Sales Lengthened In December, With Some Blame Placed on TRID

Closing Times on Mortgaged Home Sales Lengthened In December, With Some Blame Placed on TRID

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There’s mounting evidence that the Consumer Financial Protection Bureau’s disclosure rule is having an impact on home sales and purchase mortgages, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. In December, closing times on mortgage-financed home purchases continued to stretch out and fewer sales closed on time. Tom Popik, research director of Campbell Surveys, said the CFPB’s Truth in Lending/Real Estate Settlement Procedures Act disclosure rule appears to have caused slight increases in closing times and the share of missed closings for the second month in a row. “Closing time metrics are still showing...
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