The Consumer Financial Protection Bureau (CFPB) has issued guidance on lender credits in relation to TRID.
Ten new questions and answers were published recently via the bureau’s TRID FAQ, a frequently asked questions tool.
Read on for a detailed glimpse into the CFPB’s new guidance, which defines the term “lender credit” under the TRID rule, and details lenders’ requirements in disclosing closing costs on Closing Disclosures and Loan Estimates.
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