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The Consumer Financial Protection Bureau delayed the effective date of TILA-RESPA Integrated Disclosure (TRID) rule until Oct. 1. The required loan documentation consists of two new forms: the Loan Estimate and the Closing Disclosure to ensure compliance. These two new documents have thrown the mortgage industry into a mania as they try to comply by the deadline. How will this affect your corporate training initiative?
Don’t be caught unprepared! There is a lot to consider with TRID. It impacts the entire mortgage process. Additionally, failure to comply with these rules could result in unprecedented fines and penalties, costing you thousands of dollars each day. With so much at stake, it’s critical to begin making changes now to ensure you are prepared by the mandatory deadline.Read More