When Do You Have a TRID Application?
If you are new to TRID, one of the first things you need to understand is when you have a TRID application. Different regulations have different definitions as to what constitutes an application. Thus, you cannot assume that if you have an application say for Regulation B purposes that you also have an application for TRID. A TRID application is determined by receipt of six specific pieces of information. They include the applicant’s name, income, social security number, property address, property value estimate and the loan amount. Once you have these six items, you have a TRID application which starts your clock for providing the Loan Estimate.
Jerod explains more in the video.
2025/01/20
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!