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Posted Date: Wednesday, January 29, 2020
The Consumer Financial Protection Bureau has released three surveys for various industry members to assess the TRID rule, including one specifically for closing companies. Read on for more details.
Regulatory Updates, The TRID Journey
Posted Date: Monday, March 5, 2018
In a move designed to move the provisions forward regardless of the other components of an ultimate financial services reform bill, the U.S. House passed the TRID Improvement Act of 2018, now H.R. 5078, by voice vote. It has been received by the Senate and referred to the Senate Banking Committee.
Legislative Developments, The TRID Journey
Posted Date: Friday, July 7, 2017
The Consumer Financial Protection Bureau released its amendments to the TILA-RESPA Integrated Disclosure Rule, designed to formalize guidance and provide greater clarity and certainty. Among other things, the rule addresses tolerances for the total of payments and questions regarding the privacy and sharing of information. Read on for initial analysis.
Regulatory Updates, The TRID Journey
Posted Date: Wednesday, October 26, 2016
The comment period is over and industry members having given their input on proposed amendments to the TILA-RESPA Integrated Disclosure rule. Read on for some insight into what they are saying.
The TRID Journey
Posted Date: Wednesday, August 24, 2016
Continuing its efforts to provide educational resources on the TILA-RESPA Integrated Disclosure (TRID) rule to the industry, the Consumer Financial Protection Bureau announced that it created a webpage specifically for settlement professionals. The page, posted nine months after TRID took effect, discusses practices and changes TRID made to the settlement process that agents should note. Read on for the details.
The TRID Journey
Posted Date: Monday, August 1, 2016
The Consumer Financial Protection Bureau addressed much in its 293-page proposal for amendments to the TILA-RESPA Integrated Disclosure Rule, but for the title industry, one thing was missing — a change in the way title insurance premiums are calculated. Read on for more details.
The TRID Journey
Posted Date: Monday, August 1, 2016
The calculation of title insurance on the new TILA-RESPA Integrated Disclosure (TRID) forms will not change, according to proposed updates from the Consumer Financial Protection Bureau (CFPB) announced. However, privacy concerns did make the cut. Read on for details of the proposals.
The TRID Journey
Posted Date: Friday, July 29, 2016
One of the questions lenders and settlement agents have had since the implementation of the TILA-RESPA Integrated Disclosure Rule has been whether they are permitted to share certain disclosure information with other parties to the transaction, namely sellers and real estate brokers. In its proposed updates to TRID, the Consumer Financial Protection Bureau addressed those concerns, among a number of other issues. Read on for more details.
Industry News, The TRID Journey
Posted Date: Monday, May 9, 2016
On April 27, Consumer Financial Protection Bureau Director Richard Cordray wrote a letter to industry trade associations that the CFPB plans to issue a notice of proposed rulemaking on the TILA-RESPA Integrated Disclosure/Know Before You Owe rule. Since the announcement, industry members voiced their support of a proposed rulemaking and shared the concerns they most hope the CFPB addresses. Read on for more details.
The TRID Journey
Posted Date: Wednesday, April 13, 2016
Everyone knows that one of the most important parts of a real estate transaction is the recording of the deed to the property, letting everyone know who owns or has rights to the land. In many jurisdictions, the fee for recording the deed and other real estate-related documents is based on the amount of pages being recorded. Although this has worked for many years, federal regulatory forces are in play that may be an impetus for change in many recording jurisdictions.
Regulatory Updates, The Road through Oct. 3