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TRID Transaction Timelines

This timeline assumes the following, and is subject to change and may not be accurate for all mortgage products or lenders.  This was developed as a guide with Academy Mortgage, Adams Community Bank, Berkshire Bank, Greylock Federal Credit Union, Lee Bank, MountainOne Bank, Salisbury Bank, and Trustco Bank.  Speak to the actual lender of your buyer client for detials.

  • Within (3) business days after making the consumer’s loan application, the lender will send the buyer a Loan Estimate. The bank and attorneys need approximately (50) days after application date to close the loan, research title and transfer the deed from the application date.
  • Within (7) business days of receipt of the Loan Estimate (and 10 days after Loan Application) from the Lender to the Buyer, the Buyer must affirm their commitment to proceed with the transaction.

60-55 days before the closing date

  • Buyer’s Agent sends the Purchase & Sale Agreement to the Lender and the Buyer’s Attorney
  • Buyer Makes CONSUMER LOAN APPLICATION to Preferred Lender
  • Buyer schedules inspections of property

57-54 Days before the closing date

  • Buyer Receives the LOAN ESTIMATE from the Lender

54-42 Days before the closing date

  • Buyer affirms their commitment to proceed with the transaction

42-12 days before the closing date

  • Buyer financials, purchase information and home details sent to Lender’s Underwriter
  • Home is appraised by Lender
  • Buyer’s Attorney does 50 year title search
  • Buyer’s Attorney informs Seller’s Attorney if there are Lien Records to Be Cleared
  • Seller’s Attorney Provides Buyer’s Attorney Payoff Amounts
  • REALTOR Sends Commission Statement to Closing Attorney
  • Buyer receives MORTGAGE COMMITMENT

10 Days before the closing date

  • Clear to Close
  • Closing Attorney and Buyer’s Attorney send to bank all figures needed for the closing disclosures: lien payoff amounts, tax, water, sewer, fire district, fuel, condo/assn fees, rent and any other applicable adjustment.
… Read on

2006 Good Neighbor Award Recipient, David Willette

The Berkshire County Board of REALTORS® proudly announces that David Willette of RCI Real Estate in North Adams has been named the Berkshire’s ‘GOOD NEIGHBOR AWARD WINNER’ for his outstanding contributions to the community. David has earned this title through his good works for three charitable organizations in northern Berkshire; The “Just Play” Hoop League, Habitat for Humanity and North Adams Little League.

Nine years ago David founded the organization, “Just Play” Hoop League, a before school basketball program for fourth and fifth graders. This program encompasses all North Adams and Clarksburg elementary schools involving 150 children. The basketball league started as an informal gathering of kids at lunchtime and the teachers noted that the kids were more attentive in class after moving about and getting rid of some excess energy kids are known to have in great supply. The League evolved, now involving 4-5 schools and 6-7 teams and is a before school semi-competitive league. It is more than just a pick-up game – it instills pride and sense of belonging to those children involved, it gives them a safe place to go before school and fosters confidence and teamwork. And it’s great exercise too!

David is also actively involved in the North Adams Little League, where he organizes, schedules and trains the umpires for the League. He also serves as an umpire himself and works over 100 hours a year for the group, while soliciting volunteers to donate another 150 per year.

The Habitat for Humanity is a familiar organization that provides home ownership to those who couldn’t otherwise afford it.… Read on

2007 Good Neighbor Award Recipient, Linda Hebert

Linda Hebert of Hebert Realty in Great Barrington and Monterey has been named Berkshire Good Neighbor Award winner for her outstanding community service dedication.

According to Cara Davis, Executive Director of Construct Inc., Linda is a volunteer jewel for the organization. Construct is a south county housing and homeless services agency committed to providing comprehensive housing support and educational services to persons of low to moderate income or who are homeless.

Linda uses her real estate expertise, enthusiasm, personal and professional contacts and knowledge to assist in many projects of the organization. She serves as a volunteer real estate consultant to the Executive Director and on the Real Estate Project Development Committee, serves as a member of the Board of Directors and is a tireless volunteer and fundraiser for Construct. Linda helps identify potential affordable housing developments, acts as an advisor on site locations, property rehabilitation, reuse and viability.

Linda also volunteers and devotes time, talent, money and connections to fundraising projects. She has been active in Construct since 2000, and has served on their Board of Directors since 2005.

Construct has a large impact on South County families, annually serving 561 households, comprised of 223 needing housing counseling and case management, 192 for housing search assistance, 139 for financial assistance, 27 adult learners, 58 single homeless adults and 6 homeless families in transitional shelter.

Linda’s name and nomination papers have been submitted to the Massachusetts Association of REALTORS for consideration of the Mass Good Neighbor Award, which would result in a $1,500 donation to the charitable organization and a plaque.… Read on