Construction loans have caused a lot of havoc for the industry ever since the TRID Rule was first released. The lack of guidance has left many of us frustrated. Fortunately, the industry asked for further clarification on these types of closed-end, multiple-advance loans and we got some with the TRID changes that become mandatory in October or as we lovingly refer to it “TRID 2.0”! As with most things compliance-related, there were a few surprises in what the CFPB gave us.
We recently hosted a webinar entitled, “TRID: All About Construction Loans” that covers everything you need to know about doing construction loans under TRID. If you missed it, don’t worry, you can still access it On-Demand.
If you do construction loans, you need to make sure you take a close look at these requirements!
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