TRID & Requesting Verification Documents
The TRID requirements are all about getting information about loan costs in applicants’ hands quickly so they can shop around for the best deal. To facilitate this, TRID is very clear that lenders are prohibited from charging any fee other than a fee to obtain a credit report before the applicant has received a Loan Estimate and indicated an intent to proceed. Lenders are also prohibited from requiring verification documents, like tax returns, purchase agreements, etc. before providing a Loan Estimate.
Jerod explains more in the video.
2025/10/23
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!