Items Tagged with 'TILA-RESPA Integrated Disclosure Rule'

ARTICLES

  • CFPB fixes TRID “black hole,” amends Know Before You Owe

    Amendment provides clarity for closing cost increases
    The Consumer Financial Protection Bureau announced it fixed what those in the mortgage industry have taken to calling the “black hole” in the Know Before You Owe rule. After requesting input from the mortgage industry, the CFPB finalized its amendment to the Know Before You Owe rule, which included changes to the four-day Closing Disclosure period.
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  • House approves changes to TRID rule, loan originator licensing rules

    Bill brings changes to SAFE Act rules for nonbank originators
    The House of Representatives last night approved a bill that could bring big changes to the mortgage industry, including making it easier for loan originators to move from a traditional bank to a nonbank. The bill would also bring changes to the CFPB’s TRID rule. Here are the full details.
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  • Bipartisan push begins in Congress to change part of CFPB’s TRID rule

    Reps. French Hill and Ruben Kihuen lead effort on changing title insurance issue
    In an increasingly rare moment of bipartisanship, two Congressmen from opposite sides of the political aisle are partnering to push for a change to the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, or TRID. Here are the details.
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  • House to consider bill to change TRID rules

    “TRID Improvement Act of 2017” could give lenders more regulatory leeway
    The House of Representatives could soon consider a bill that would bring several changes to the Consumer Financial Protection Bureau’s “Know Before You Owe mortgage disclosure rule”, also known as the TILA-RESPA Integrated Disclosure rule or TRID. Here are all the details.
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  • TRID updates and latest proposal published in Federal Register

    Updates effective Oct. 10
    Consumer Financial Protection Bureau’s finalized updates to the Know Before You Owe mortgage disclosure rule, also known as the TILA-RESPA Integrated Disclosure rule, will officially take effect on Oct. 10, 2017. But, it’s important to note that despite the effective date, the CFPB set a mandatory compliance date for Oct. 1, 2018.
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  • Industry responds to updated TRID rule

    MBA, NAFCU, NAR weigh in on updates
    After much anticipation, industry associations weighed in on the Consumer Financial Protection Bureau’s finalized updates to the Know Before You Owe mortgage disclosure rule, also known as the TILA-RESPA Integrated Disclosure rule. The new updates, after all, were meant to answer cries from the same associations for more clarity and certainty around TRID.
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  • CFPB finalizes updates to TRID

    Includes a limited follow-up proposal
    After much anticipation, the CFPB officially released the finalized updates to the Know Before You Owe mortgage disclosure rule, also known as the TILA-RESPA Integrated Disclosure rule. The newly amended rule finally answers industry calls for greater clarity and certainty. But it’s not over. The CFPB also announced a follow-up proposal, seeking information on closing disclosures.
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  • Better Mortgage offering $1,000 guarantee that it can beat other lenders’ pricing

    Telling borrowers that it will beat any lender’s loan pricing or give you $1,000
    Better Mortgage, an online mortgage lender, is now offering borrowers a guarantee that its mortgage is cheaper than any other lenders’ options, and the lender is putting its money where its mouth is. Better Mortgage now guarantees that it will beat any competitor’s loan estimate by $1,000. If not, Better will give the borrower $1,000.
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  • Here’s how TRID impacted mortgage defects in 2016

    TRID efforts driven by trial-by-fire
    After the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule in October 2015, the industry dedicated most of its attention in 2016 to working out how to originate under the rule. New data from ARMCO displays exactly how effectively the industry adjusted to the rule throughout 2016. Check out the following charts and data to see if TRID is still hampering growth.
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