What Does the TRID Rule Mean to Your Customers?
Starting August 1, 2015, the new Consumer Financial Protection Bureau's (CFPB) TILA-RESPA Integrated Disclosure (TRID) regulatory implementation impacts all title companies and lenders. Specifically, the implementation of the rule will impact quoting title insurance and settlement fees, delivery of the new Closing Disclosure, collaboration between lenders and title companies, and the title company's settlement statement. The HUD-1 and Truth-in-Lending Disclosure for most closed end residential loans are going away.
Please click the image below for an informative video that describes how your clients will be affected.
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