Arguably the largest change Realtor’s will see out of T.R.I.D. is the replacement of the familiar HUD-1 Settlement Statement with the new Closing Disclosure Form, or C.D. for short. With this new form you might start being asked for information you have not had to give out in the past, such as your license number. All of that information is used to create the Contact Information Page as part of the C.D.. This page lists all primary contacts associated with a real estate transaction such as the Lender, Listing & Selling Agent, Settlement Agent, Etc. Some required information includes not only contact information, but an agents state license number, and their respective broker’s license number as well. Now is a great time to make sure you have all of that information quickly available for those who as, or even start contacting third party vendors such as Mortgage Brokers, Lenders, or Settlement Agents you use often. The main emphasis behind all of the changes is industry communication, and this brings it front and center.
CD ExampleBrandon Hunt2017-02-04T23:03:00-05:00