Last week, the Consumer Financial Protection Bureau (CFPB) released its proposed amendments to the “Know Before You Owe” mortgage disclosure rule, commonly known as the Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosure rule (TRID). While the proposed rules certainly do not address all of the industry’s concerns, they do clarify a number … Continue Reading
On October 3, 2015, the CFPB’s new TILA-RESPA Integrated Disclosure rule (TRID) took effect. According to the CFPB, the purpose of TRID was to replace four long-standing consumer mortgage disclosure forms that the CFPB considered overlapping and confusing to consumers. The four forms were replaced by two new forms: the Loan Estimate and the Closing … Continue Reading
