The Consumer Financial Protection Bureau has issued an interpretive rule to provide guidance related to TRID timing requirements stemming from recent legislation designating Juneteenth a federal holiday. The new rule will help the mortgage industry determine whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections.
The Consumer Financial Protection Bureau has updated its TRID Rule Frequently Asked Questions (FAQs) tool to include guidance on how the Building Up Independent Lives and Dreams Act impacts certain housing assistance loans.
The BUILD Act provides regulatory relief to charitable organizations that provide housing assistance. The bill was enacted after being signed by President Joe Biden on Jan. 13.
Read on for an in-depth look at the FAQs.
The Consumer Financial Protection Bureau’s (CFPB) recent report detailing the TRID rule’s impact on the industry shows it helped consumers better understand the mortgage transaction. Five years after TRID went into effect, the CFPB looked back on the impact of the rule on the industry.
Read on to learn what Richard Horn, the former CFPB senior official who led the original TRID rule, said the industry can glean from the report.
The Consumer Financial Protection Bureau (CFPB) has updated its TRID FAQ to include guidance on the total of payments disclosure, and two other common issues.
Two industry experts spoke to RESPA News to provide insight on the three new questions and answers on the bureau’s frequently asked questions tool.
Read on for more from RESPRO President and Executive Director Ken Trepeta and Richard Horn, the former CFPB senior official who led the original TRID rule.
The Consumer Financial Protection Bureau (CFPB) has published a factsheet on title insurance under the TRID rule.
The bureau published a factsheet on how to disclose title insurance on the Loan Estimate (LE) and Closing Disclosure (CD), including when a negative owner’s title insurance cost disclosure is appropriate.
Read on for details from the CFPB, which provided guidance on lender’s and owner’s title insurance,
RESPRO has asked the Consumer Financial Protection Bureau to improve specific issues relating to TRID that affect consumer access and mortgage choice.
The industry trade group was one of about 50 entities that responded to the bureau’s 2019 request for information to assist its new Taskforce on Federal Consumer Financial Law on how to improve financial laws and regulations.
Read on to see highlights from RESPRO President and Executive Director Ken Trepeta’s comment letter.
The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule addressing how the public health crisis affects TRID and Regulation Z rescission waiting periods.
The guidance clarifies how consumers potentially can gain relief from TRID timing restrictions because of the current pandemic.
Read on for reaction from CFPB Director Kathy Kraninger and Richard Horn, the former CFPB senior official who led the original TRID rule.
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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