Currently Browsing: TRID

CFPB to Discuss TRID Rules in July

According to a recent article by Bonnie Sinnock, the Consumer Financial Protection Bureau is expected to clarify its TILA-RESPA integrated disclosure rules in July. It has been eight months since the CFPB’s  TRID, Truth in Lending Act and Real Estate Settlement Procedures…

3 Conditions that Trigger the Need for a New Closing Disclosure

As you probably already know, the new rules set forth by the Consumer Financial Protection Bureau back in October of 2015 (we refer to it as TRID) had significant impact on the mortgage industry and the closing process for home buyers and…

TRID Update Shows Everything Going Smoothly

The Consumer Financial Protection Bureau’s newly instituted Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) designed to give borrowers a better understanding of their home loans is not nearly causing the potential widespread disruption in the housing market that…

TRID Security and Compliance

TRID Security and Compliance

One big aspect of TRID is consumer privacy protection and the protection of consumer information. This will immediately impact the way that we all communicate and send consumer data via email. Going forward, emails containing client information will need to be encrypted…

TRID Documentation

More on TRID Documentation

We are going to talk again about TRID, the TILA/RESPA Integrated Disclosure, focusing on documentation and changes to documentation. It is a huge deal in our business when the Truth in Lending Statement, the Good Faith Estimate, and HUD (Housing and Urban…

Information About the New TRID Timelines

  There are some new TRID rules which are coming out, and one of the more important new rules focuses on the TRID timelines specifically. There is concern that it will be the end of 30-day closings on purchase transactions, but at…

What is TRID and How Will It Affect the Mortgage Industry?

You have probably already heard that change is coming, but what are the actual implications of the upcoming TRID changes? They are due to roll out on October 3, 2015 and that’s when we’ll really see the effects and ramifications. Take a…