The Structured Finance Association has released new guidance designed to create a uniform testing standard as a result of a consistent TRID interpretation of prevailing legal precedent and informal written guidance and webinars offered by the Consumer Financial Protection Bureau across third-party review firms.
The TRID Grid 3.0 guidance is expected to mean residential mortgage-backed securities will be more focused on material TRID compliance errors.
Fitch Ratings said the new guidance “is particularly helpful.” Read on for more from Fitch.
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