Press

Northwest Federal breaks industry standard on purchase volume after TRID enforcement

HERNDON, VA (November 2, 2015) — While some lenders are seeing 45-60 day close dates since the October 3rd TRID implementation, Northwest Federal is exceeding expectations, staying compliant while maintaining a 30 day close date.

“Even with the new compliance requirements, we’ve seen an increase in overall member satisfaction with our loan process. Members who initially inquired with other lenders have told us they’re able to close more quickly and efficiently with Northwest Federal,” says AVP of Mortgage Lending, Joe Talmadge.

Anticipating the impact on every participant in the mortgage lending process, Northwest Federal started early, stayed informed, and kept its focus on the ultimate goal: providing an efficient way to give members the information they need to make informed home buying decisions.

About Northwest Federal Credit Union

Northwest Federal Credit Union is a 280,000-plus member-owned financial institution dedicated to providing a comprehensive range of banking and financial services to its members. With a focus on personalized customer service and community involvement, Northwest Federal Credit Union offers a variety of products, including savings and checking accounts, loans, mortgages, and investment options. Striving to enhance the financial well-being of its members, the credit union emphasizes competitive rates, convenient digital banking solutions, and a commitment to supporting local communities through various outreach initiatives. Northwest Federal Credit Union maintains a strong presence across the DMV, with several strategically located branches to serve its members. Established in 1947 and headquartered in Herndon, Virginia, the Northwest Why statement is: "Together we serve and inspire to transform lives."