5 things you need to know about TRID's mortgage disclosure rule

  • TRID has caused a ton of headaches for lenders, agents and consumers alike since its implementation on October 3, 2015.
  • The Consumer Financial Protection Bureau started a webinar series that breaks down TRID into understandable chunks, which they hope will make implementation easier.
  • The latest webinar answered questions about Loan Estimate and Closing Disclosure forms.

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Today, the Consumer Financial Protection Bureau hosted its latest webinar on the TILA-RESPA Integrated Disclosure process, which is better known as TRID. Since its implementation on October 3, 2015, TRID has caused many headaches for brokerages, agents, lenders and consumers alike as they navigate the new Loan Estimate and Closing Disclosure forms, and the three business day window for consumers to review those forms before moving ahead.