Most folks in the biz are probably aware of this by now, but the Mortgage Disclosure Improvement Act is officially upon us. What this means in plain terms is that the loan process will take longer to accomplish now. There are certain events that now force 3 day waiting periods during the process. We cannot order an appraisal until all disclosures have been signed by the borrower now. This is making a face to face appointment much more desirable, and “out of state” lending will now cause even more problems than normal. On a purchase, I would not expect any lender to close much sooner than 40 days, and I think 60 day closings will begin to be more common.