TILA-RESPA Integrated Disclosures: What to Know

 

The Dodd-Frank Act required the CFPB to revamp disclosures consumers receive when applying for and closing on a mortgage loan under the Truth in Lending Act (Regulation Z) and the Real Estate Settlement Procedures Act (RESPA).  The TILA-RESPA Integrated Disclosures (TRID) rule was effective on October 3, 2015.   The TRID rule most notably resulted in new mortgage disclosures – the Loan Estimate and the Closing Disclosure – as well as new coverage, timing, good faith analysis, and notice requirements.

TRID Compliance Consulting and Training

 

The rule has been amended several times including the “TRID 2.0” amendments that were mandatory effective on October 1, 2018.  “TRID 2.0” mainly provided guidance for construction loans, simultaneous subordinate lien loans, and good faith and revised disclosures.  The biggest change associated with “TRID 2.0” is what we call the “Good Faith” Effect – check out our blog for a plain English explanation! 

BSA Training and Banking Regulations Compliance Consulting Spacer - TILA-RESPA Integrated Disclosures: Know Before You Owe.

Get Started with TRID

BSA Training and Banking Regulations Compliance Consulting Spacer - TILA-RESPA Integrated Disclosures: Know Before You Owe.

External TRID Resources:

  • Truth in Lending (Regulation Z): Learn More Here
  • TILA-RESPA Integrated Disclosures:
    • Final Rules                                            
    • Executive Summaries              
    • Compliance Guides
    • Forms
    • FAQs
    • CFPB Webinars
    • Examination Manuals

 

BCC TRID Resources:                          

 

 

Get Started with TRID