TRID for Beginners

Be sure to JOIN US on February 11, 2020, for our webinar, “TRID for Beginners”. 

Are you new to TRID and looking to learn the basics? If so, you are in luck!  We have put together a webinar that will get you on the right track with TRID compliance.  A common beginner question we get is, “What’s the difference between Section C on page two of the Loan Estimate versus Section B on page two of the Loan Estimate?”

Click on the video to listen to Jerod explain more.

Other Upcoming Lending Webinars:

February 25thAll About Escrows

February 13thThe Mortgage Life Cycle (A Five-Part Webinar Series)

February 25thAll About Escrows

March 17thTRID: How to Complete the Loan Estimate

March 24thTRID: How to Complete the Closing Disclosure

March 26thCompliance Just for Commercial Lenders

Published
2020/02/03

Want more Free Lending tools? See here – https://store.bankerscompliance.com/link/LendingFD

Do You Audit TRID files?

Be sure to JOIN US on January 23, 2020, for our webinar, “Auditing TRID”. 

If you audit TRID files, do your files have a copy of the seller’s Closing Disclosure?  This is a very common error we see when we conduct loan reviews.  While you are not responsible for what’s disclosed on the seller’s Closing Disclosure, you are required to obtain and keep a copy of it.  This is just one of the many common TRID errors that will be covered during the webinar.

Click on the video to listen to Jerod explain more.

Other Upcoming Lending Webinars:

February 11thTRID for Beginners

February 13thThe Mortgage Life Cycle (Five-Part Webinar Series)

February 25thAll About Escrows

March 17thTRID: How to Complete the Loan Estimate

March 24thTRID: How to Complete the Closing Disclosure

Are you responsible for reviewing TRID files? Have you located the sellers version of the closing disclosure? Hi there, this is Jared Moyer with Banker’s Compliance Consulting.

That’s one of the several very common errors that we’ve seen recently with TRID files. There’s a requirement that while you’re not supposed to be charged with compliance for the sellers version of the closing disclosure as provided by their settlement agent, you are required to have a copy of the closing disclosure provided by the sellers settlement agent to the seller. And you’ll get cited if you don’t have a copy of that in your file.

Now, this is just one of the many things that we’re going to take a look at when we provide our upcoming two-hour webinar that is called auditing TRID. Now, the idea is we’re going to look at the TRID requirements from a unique perspective. However, this program is not just designed for those that do auditing those that review TRID files. If you’re the loan officer or maybe you’re the processor, I would think you’d also want to have an idea of what’s being looked at when those files are being audited. So, we’d love to have you get your team registered and join us for this two hour program. We’ll hope to see you there.

Published
2020/01/13

Want more Free Lending tools? See here – https://store.bankerscompliance.com/link/LendingFD

The TRID “Good Faith” Standard

TRID says that when you issue a document like a Loan Estimate, or a revised Loan Estimate, or a closing Disclosure, or a revised Closing Disclosure, the information that’s contained within has to be based on the best information available. That’s the good faith standard. 

Seems simple enough but it isn’t.

Listen to the video as Jerod explains more.

Be sure to join us for “TRID A to Z” beginning on October 31, 2019.  We’re going to talk about all of the elements of TRID during this three-part webinar series.

That’s six hours of TRID! 

So you want to know how to complete the loan estimate. You want to complete the closing disclosure. You want to know about shopping. You want to know about revised loan estimates and revised closing disclosures tolerances, tolerance cures and everything else that goes with TRID. Oh yeah, and you want it all in one place?

TRID: from A to Z

Hi there, this is Jared Moyer with Banker’s Compliance Consulting. We can do just that for you. We’ve got a product that we’ve put together that’s called TRID: from A to Z. It’s a three-part webinar series that we cover in two hour segments. We take you through things like the TRID good-faith standard, which is something that applies at various stages of TRID, not just a single stage.

You can’t just take the loan estimate webinar we provide and learn all about good faith. You can learn about the good faith standard as it applies to just the loan estimate. We’ve got a free-standing closing disclosure webinar where you can learn about it at that stage too, but if you want to know about everything all in one place, this is the product for you.

That good faith standard. What’s it all about?

Well, you see TRID says that when you issue a document like a loan estimate or a revised loan estimate or a closing disclosure or revised closing disclosure, the information that’s contained within has to be based on the best information available. That’s the good faith standard.

The requirement goes further and states that the lender has to take and do reasonable diligence to arrive at that good faith standard. Well at Banker’s Compliance Consulting, if you haven’t heard it before, We try to talk into plain English and that due diligence standard is called doing your homework. That’s the plain English take on it, which means you have to have a method to your madness as to how you arrive at those numbers. If they’re estimates and if we’re talking about actual charges, you have to do the work necessary to obtain those actual charges.

Good-Faith Applies At All Stages

And again, that good-faith standard applies at various different stages of the TRID process. It’s not just at the loan estimate or just at the closing disclosure or just with revised disclosures. This program is going to allow you to take it in at all of those various stages and connect the dots within. Now we’re not just going to talk good faith standard. We’re going to talk about all of the elements of trade during this three-part webinar. Again, each one of them is two hours along the way.

We’d love to have you get your team registered and join us as we take that journey on TRID: from A to Z. I hope to see you there

We promise you won’t be “spooked” and will come away with an understanding of TRID like you never have before. 

Published
2019/10/28
Jerod Moyer

Want more tools for TRID? See our Free Lending Tools here – https://store.bankerscompliance.com/link/LendingFD

Build Your Understanding of TRID Construction Loans

If you are a lender and you make closed-end, multiple advance loans to construct a consumer’s home, you need to be aware of the TRID requirements and how they can impact the transaction.

Unfortunately, it’s not quite as straightforward as other types of closed-end consumer home loans.  And, on top of that, while Appendix D of Truth in Lending isn’t exactly new, it is a huge player in the construction loan game as well.

Listen to the video as Jerod explains.

If you’re looking for the latest, greatest information regarding construction loans, you’re in luck!  We’ve put together a two-hour webinar called, “TRID All About Construction Loans” where we are going to get into the nitty gritty details in plain English.

We will also provide some sample disclosures including a NEW Construction-Permanent (one closing) ARM disclosure.  We hope you join us on July 16th, you don’t want to miss this!

Register NOW!

Published
2019/07/09
Jerod Moyer

Want more to see all the Free TRID Tools ? Go HERE!

Want to see the latest Blogs on TRID? Go HERE and scroll down.

Want more TRID training? Go HERE!

TRID for Beginners

What is an intent to proceed? Where does it go? How do I document it? Why do we even have to do it?

If you’re a seasoned TRID veteran, you very likely know the answers to those questions. It’s really not that complex, but if you’re brand new to TRID, something as simple as an intent to proceed can be a completely foreign concept and even cause some confusion.

 

Listen to the video as Jerod explains.

 

 

If you’ve got people on your team that are brand new to TRID compliance or will have people new to the consumer mortgage loan compliance game down the road, we hope you will join us for our “TRID for Beginners” webinar on July 11, 2019.

 

Register NOW!

 

Published
2019/07/03
Jerod Moyer

 

Want more to see all the TRID Free Tools? Go HERE!
Want to see the latest Blogs on TRID? Go HERE and scroll down.

Want more TRID training? Go HERE!