TRID Exclusive, Part 2: In practice, forms have proven to be tricky

SOURCE: Mortgage News Feed

Before the TILA-RESPA Integrated Disclosure (TRID) rule was implemented Oct. 3, 2015, there were many concerns that lack of familiarity with the new rules and forms, as well as the lack of formal adjustment period to the rules, would lead to delayed closings and, understandably, peeved customers. As the first mortgage loans featuring the new Loan Estimate and Closing Disclosure forms are being closed, though, how much of that actually has come true? One of the major concerns coming into the Oct. 3 implementation date was that a lack of understanding of the rules would lead to mistakes, potential enforcement and closing delays. Read Full Article Here >>

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