The Results Are In: Fannie Mae’s TRID Survey.
Just a few months after TRID was enforced, Fannie Mae’s Economic & Strategic Research Group (ESR) conducted a survey in February, where they polled senior mortgage executives to see how TRID’s implementation was affecting their businesses. The survey also assessed the executives’ insight on TRID’s impact on competitiveness within the mortgage industry and on home buyer behaviors. Read a summary of the survey’s findings below, or read more about the survey’s results here.
- 28% of lenders find the biggest challenge to be coordinating with third-party technology vendors
- 21% of lenders identify the second-biggest challenge to be communicating with home buyers, sellers and loan officers
- 46% of large lenders believe TRID has given them more competitive advantages
- 16% of smaller lenders said TRID has given them more competitive advantages