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 >>


About The Author

Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.