TRID 2.0 construction loans: So, you’re doing a construction loan. That means the loan purpose you disclose on the TRID disclosure is “construction”, right? While that seems quite logical, it’s not always the case. Even for what you consider to be a construction loan, you still have to work through the TRID loan purpose hierarchy. You must first determine that it’s not a purchase and not a refinance before you get to construction.
Jerod says more about TRID Construction in the video.
Find TRID resources below!
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar, or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups, and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.
Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!