Completing the Loan Estimate

The CFPB issued a Final Rule in July 2017 that updated TRID with some substantive changes in areas where specific implementation challenges were identified.  The Final Rule formally implements CFPB guidance on topics such as shopping, good faith, calculating cash to close, construction loans, seller credits, disclosing property taxes and property value, revised loan estimates and much more.

 

Although mandatory compliance date is October 1, 2018, you can and may want to begin implementing some of the changes now.  Other changes will need to wait until your software is updated.

 

Be sure to join us for our “TRID: Completing the Loan Estimate” webinar on January 18, 2018.  We will walk you through the Loan Estimate line-by-line and will give you the information you need to know about the Final Rule changes in plain English!

 

While you’re at it you can also register for our “TRID: Completing the Closing Disclosure” webinar on January 25, 2018.  Again, we will walk you through the Closing Disclosure line-by-line and will include applicable information from the Final Rule.

Still not sure what the tila-respa integrated disclosures rule is? Learn more about TRID compliance here. 

 

Published
2018/01/11
Deb Irving
David Dickinson

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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