Category TILA-RESPA Integrated Disclosure

CFPB Treasure Trove of Answers to Questions Regarding TRID

As institutions continue to work through integration of the TILA-RESPA Integrated Disclosure (“TRID”) and face questions regarding its application and unique factual scenarios, they should be aware of a resource the CFPB has compiled. Over the last 10 months, the Federal Reserve Board has hosted several webinars, all of which are available on the Internet. […]

TRID – Impressions and Updates So Far

Although we are still only a few months into the sea change in residential real estate closing documentation, the general consensus is that implementation of the TILA–RESPA Integrated Disclosure (“TRID”) has been relatively smooth. The deadline for implementation was extended following months of preparation and educational steps for realtors, brokers, and lenders; therefore, most industry […]

Guidance on Construction Loan TRID Application

A common issue for lenders following implementation of the TILA-RESPA Integrated Disclosure (“TRID”) Rule has been the context of construction loans. With the economy recovering in many parts of the country, construction is moving forward at a more rapid pace, and construction loans are more frequently issued than in years past. The Consumer Financial Protection […]

CFPB Officially Moves TRID Rule Deadline to October 3

Following a series of moves to push back the effective date of the TILA RESPA Integrated Disclosure (“TRID”) Rule, the Consumer Financial Protection Bureau (“CFPB”) has now officially delayed implementation until October 3, 2015 (from August 1, 2015). As previously referenced on this blog, the effective date falls on a Saturday, which the CFPB selected […]

CFPB Issues Proposed Rule Regarding Delayed Implementation of TRID Rule

Earlier this week, the Consumer Financial Protection Bureau (“CFPB”) issued its proposed rule regarding delayed implementation of the TILA-RESPA Integrated Disclosure (“TRID”) Rule. The new date the CFPB selected is October 3, two days later than the previously announced date. The CFPB explained that “scheduling the effective date on a Saturday may facilitate implementation by […]

CFPB Offers Limited Reprieve for TRID Rule Compliance, But Says No to Delayed Enforcement

The Consumer Financial Protection Bureau (“CFPB”) has declined to delay enforcement of the TILA-RESPA Integrated Disclosure (“TRID”) rule, which takes effect for applications received on or after August 1, 2015. The CFPB has refused to delay enforcement or offer a waiting period during which the TRID rule would apply, but enforcement would be limited. Instead, […]