On April 28th, the CFPB issued a letter in which it acknowledges that TRID has brought with it “operational challenges” and their plan to issue a Notice of Proposed Rulemaking in July that will provide “greater certainty and clarity” regarding the TRID Rule.
What does this actually entail? Good question. In the letter; however, Director Cordray does acknowledge that incorporating some of the Bureau’s existing informal guidance…”would be helpful”. We definitely agree!!
As always, we’ll keep you updated as we learn more!