The Consumer Financial Protection Bureau (CFPB) has published two new TRID Guides to provide guidance on construction and construction-to-permanent loans. The guidance is the most detailed on construction lending TRID disclosures from the CFPB to date.
However, it is not likely to help with industry confusion on how to properly disclose construction-to-permanent, one-time-close loans – especially as a single transaction on the Loan Estimate and Closing Disclosure, according to Amanda Phillips, Ballard Spahr of Counsel.
Read on to get more guide tips from the CFPB and hear what Phillips had to say.
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