CFPB corrects TRID ‘typo’ regarding property-related costs

  • The bureau has corrected a "typo" in the text of the TRID rule, also known as Know Before You Owe, regarding tolerances for property taxes and certain other property-related costs.
  • The CFPB published its notice of the correction in the Federal Register, and the correction is effective as of Feb. 10.
  • The announcement is not exactly the kind of guidance the real estate industry has been hoping to see.

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The CFPB today announced a correction to a portion of its TRID rule — but it’s probably not the sort of fix some real estate and settlement service industry professionals were hoping to see.