A DocuTech executive advises preparing for a pronounced decrease in volumes as well as new regulations when January hits.
For midsized lenders who have closing times averaging around 21-28 days in length, those closing times could double when the new rules hit, warns Scott Stucky, chief operating officer of DocuTech, who advises lenders to address this by preparing as much ahead of time as possible for it.
“I think the spigot’s going to shut off,” he said.