Combining TILA and RESPA was meant to improve consumer understanding of complicated mortgage disclosures.
However, industry experts said further changes to the TRID rule are necessary to improve consumers’ satisfaction with the disclosures and closing processes.
Read on for consumer-friendly suggestions made by RESPRO, the National Association of Mortgage Brokers (NAMB) and the National Association of Realtors (NAR) to the Consumer Financial Protection Bureau (CFPB) on TRID.
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