What are the problems in regards to TRID by all parties, and how can your Fort Myers Title Company help solve them?

FORT MYERS, FLORIDA, USA, January 15, 2016 /EINPresswire.com/ -- TRID’s initial debut was October 3rd of 2015 and has continued to make quite the impression throughout the end of 2015 and beginning of 2016. Those involved in every piece of real estate transaction are watching these trends and can’t help but wonder...what’s next? So, Fort Myers Title Company is ready and equipped in regards to TRID in the continuation of 2016.

First of all, communication between both the lender and the title companies have hit a bump in the road. TRID has required a number of changes in procedures in regards to documentation and if it isn’t practiced specifically and correctly in accordance to procedure, then the lender and/or company may face a fine along with a requirement to redraft the documents. Now loans are taking much longer to go through which, in turn, lead to a much longer gap until reaching the closing table. Jennifer Ferri, owner and operator of Fort Myers Title Company explains that, "Now more than ever it is important for lenders and title companies to maintain consistent communication."

In addition to this, software trouble is to be expected in 2016. For example, certain software sends out information to appropriate parties however they must be opened within 24 hours or it will close out the file altogether nearly restarting that process again. If associated parties aren’t aware of when they received certain documentation then they may not realize this in time. Title Junction has recognized these occurrences and have in turn, made them a priority. It has become this title company’s habit to consistently reach out to those sending documents so that their clients are always reaching the closing table on time.

These sort of factors are all dealt with by real estate parties (as discussed the lenders, title companies, realtors, and etc.) However, this oftentimes can leave the buyers and/or sellers without any real estate knowledge pretty confused. Again, communication is key here as it is important to let your client’s know exactly what to expect through the 2016 TRID affected year. Senior Closing Processor, Vicki Gillions states, "While both reviewing, confirming and discussing files, you can tell who is has done their research and who is still trying to beat around the bush. There is no way around TRID, only through it."

All in all, 2016 is going to be a major transition year. We will see that a lot of companies who refuse to abide by the changes may just be weeded out while the stronger ones will make their way to the top. Though this will be an overall improvement on our market we can’t help but be concerned about this transition because everyone will be affected by one another until reaching that plateau.

About Title Junction: Title Junction (http://www.title-junction.com) is a full service real estate title company serving the area of Fort Myers, Cape Coral, and the entire state of Florida. The company handles a number of real estate title services for both commercial and residential properties and the employees can help a foreign investor or foreign seller navigate through the tricky FIRPTA regulations. Employees of Title Junction can also act as a witness in courtesy closings, an escrow agent or a notary public. The company was founded in 2005. - See more at: http://www.onlineprnews.com/news/618155-1440099718-fgcu-student-gains-position-specializing-in-social-media-with-fort-myers-title-company.html#sthash.m8kmuMcw.dpuf


Press release courtesy of Online PR Media.

Jennifer Ferri
Title Junction
239-415-6574
email us here

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