TRID: Pre-Disclosure Restrictions

The TRID requirements found in Regulation Z state that once a lender has received six specific pieces of information, they have a TRID application and then have three business days to provide a Loan Estimate to the applicant. Those six pieces of information include:

  • Name
  • Income
  • Social Security Number (to obtain a credit report)
  • Property Address
  • Property Value Estimate
  • Loan Amount

TRID also prohibits a lender from doing certain things until they have an application (i.e., the six items). For example, you cannot require the applicant to pay any fees other than a reasonable fee to obtain a credit report.

Jerod explains this and more prohibitions in the video.


TRID Resources!

Published
2023/12/15

 
Jerod Moyer

Jerod Moyer

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!

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