Are mortgage borrowers paying for the costs of TRID?

American Bankers Association survey says banks are struggling under the compliance burden — and it’s trickling down to consumers
  • The results of a survey conducted by the American Bankers Association show that the costs of TRID could be raising consumer mortgage loan fees and delaying transactions.
  • The increased costs are occurring in origination, closing and settlement, attorney, appraisal, loan lock, processing, administration, abstracting and application fees.
  • ABA is calling for the Consumer Financial Protection Bureau to take a closer look at some of these uncertainties and compliance concerns.

The American Bankers Association has released the results of a post-TRID lender survey showing that some banks are so burdened by the complex regulation, they are charging higher mortgage loan fees to consumers.