A July 2017 Final Rule updated the TRID rules with some substantive changes in many areas where implementation challenges were identified. The 560-page 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 disclosures, and much more. In addition to these clarifications, another proposal was introduced for further amendments. This Final Rule is not something you want to overlook!
The Final Rule has a mandatory compliance date of October 1, 2018; however, many of the changes you can begin implementing right away. Do you have it all figured out? Rest assured we have all the information for you, in plain English! Join us for our TRID Update-The 2017 Final Rule Webinar on November 2, 2017.
You can also learn more about tila-respa integrated disclosures rule, including additional TRID training information.
Published
2017/10/26
Deb Irving