Friday, October 2, 2015

TRID STARTS TOMORROW



October 3 is the start date for the new Loan Estimate and Closing Disclosure requirements a/k/a the “Truth-in-Lending RESPA Integrated Disclosure” Rule a/k/a TRID that will combine two existing disclosure regimes under TILA and RESPA and make mortgage disclosure easier for consumers to understand and use.

According to the Consumer Financial Protection Bureau: http://www.consumerfinance.gov/blog/know-before-you-owe-making-the-mortgage-process-easier-for-you/

For some other views on this see:

http://www.wsj.com/articles/new-mortgage-rules-may-spark-delays-frustration-1443519000

https://www.parjustlisted.com/top-ten-things-realtors-need-to-know-about-respa/

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