Last year, and even into this year, TRID was everywhere. You couldn’t get away from the Consumer Financial Protection Bureau’s new Know Before You Owe rule, also known as the TILA-RESPA Integrated Disclosure rule, also known as TRID.
Whether it flooded your inbox or dominated your conversation, it infiltrated your life, as the industry was in hyper drive to get into compliance, with a deadline of Oct. 3 hanging over its head.
Now we're one year into TRID, and the industry has significantly more of the rule's implementation under control.
However, while you might fell you have a better handle on TRID and are ready to move on, don’t forget that the news on TRID isn’t over yet.
The comment period on the CFPB's proposed updates to the Know Before You Owe mortgage disclosure rule closed less than a month ago, leaving a lot of concerns still up in the air to be addressed soon.
The TRID proposed changes answered cries to do something about the housing industry's concerns with the rule, but don’t move on yet when you were given the second chance you were asking for.
The Mortgage Bankers Association’s annual convention & expo in Boston, which was held this week, featured only one panel session on TRID, a significant change from all the hype surrounding it last year.
And the room, while not empty, definitely wasn’t overflowing.
While the conversation seemed to change from regulation to innovation, this doesn’t mean that the door is closed on TRID.
To that end, HousingWire put together an expert panel to address the concerns that are still out there on the rule.
And given that there was only one panel at MBA, we are putting on a quick webinar this Friday to make sure the full story about TRID is discussed. And if you already have questions, feel free to send them our way. (Sign up here)
The expert panel includes Yehudah Forster of Moody’s Investors Service, Vince Wilson of IDS and Angela Cheek of Ellie Mae.
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