A pro forma invoice is the same as a commercial invoice which, when used in international trade, represents the details of an international sale to customs authorities.
TRID requires process changes to the loan origination life-cycle, particularly in the way that lenders approach the closing of loans. Under the new rule, the closing process needs to be at least three days ahead to meet the Closing Disclosure timing requirement.
Most VA loans close in 30 to 45 days, which is standard for the mortgage industry regardless of the type of financing. In fact, dig into the numbers a bit and you donât find much difference between VA and conventional loans. For the last eight months of 2014, the average conventional purchase loan closed in 38.9 days, compared to 39.6 days for VA loans, according to Ellie Mae. Letâs review five key factors that could affect the timeline of a VA loan purchase.