Why Mortgages Are Taking Longer to Go Through
MP4•Головна епізоду
Manage episode 155048830 series 1144137
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Last October, the Dodd-Frank ruling finally went into effect and changed a lot of rules for mortgage lending. It doubled, maybe tripled the workload of lenders behind-the-scenes, so lately we’ve run into frequent delayed and extended closings.
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Very few lenders have been able to do the standard 30-day close.
”Write your closing date out into the future, around 35-45 days. With the recent changes, very few lenders have been able to do the standard 30-day close with these new rules and regulations.
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