Links in “Integrated Mortgage Disclosures”
- Cordray Fires Warning Shot Across Vendor Bow Re: TRID
Amid reports that some vendors were creating obstacles for lenders attempting to comply with the TILA-RESPA Integrated Disclosure rule, CFPB Director Cordray said financial regulators "need to devote greater attention to the unsatisfactory performance of these vendors." [10/20/15]
- The TRID Tumble
Mortgage applications tumbled 27.6% the week after the TILA-RESPA Integrated Disclosure rule took effect. The drop was partially offset by the 25.5% spike in mortgage applications the week before TRID took effect. [10/14/15]
- Lender Beware: Feds May Give Mortgage Lenders a Break, But Private Actors May Not Be So Lenient
The CFPB has assured leniency with lenders who make a âgood faithâ effort to comply with TRID, lenders may still face liability from private lawsuits, and are encouraged to implement policies and procedures which ensure compliance. [10/14/15]
- TRID: Burden on Lender, But Benefits in the Long Run
After the painful transition period, the TILA-RESPA Integrated Disclosure rule will make settlements run smoother, with less confusion and error. [10/13/15]
- TRID Time Pressure + Email = Greater Risks
New TILA-RESPA time pressures on the exchange of documents, plus the convenience of emails is a formula for risky transmission of personally identifiable information. Now may be a good time to review secure email practices. [10/9/15]
- TRID Vote Surprise: One-Third of House Democrats Counter CFPB
The CFPB can usually count on solid support from one side of the aisle, but when it came time for the House to vote on implementing a formal grace period for the CFPB's TILA-RESPA Integrated Disclosures rule, nearly one-third of House Democrats voted in favor of it. Here's why. [10/9/15]
- Hold the Phone (But Don’t Put it Down Just Yet); House Votes to Formalize TRID Grace Period
The House votes to provide a grace period through Feb. 1, 2016 for lenders who make a good-faith effort to comply with the TILA-RESPA Integrated Disclosure rule. But it's too soon to breathe a sigh of relief. Next comes the Senate, and then there's the little matter of the White House threatening to veto the measure. [10/8/15]
- TRID Day 2: How’d We Do?
Perhaps you've heard that TILA/RESPA Integrated Disclosure rule went into effect over the weekend. Now, with one full workday under the new rule our belts, how'd everybody do? Here's a rundown. [10/6/15]
- Life After TRIDpocalypse
We're now in a post-TRID world. What does it look like? For borrowers: benefits, drawbacks, and unintended consequences. For many lenders, it depends on how well the bubble gum and rubber bands that are tying their system together hold up. [10/5/15]
- Itâs Here
The dreaded TILA-RESPA Integrated Disclosure rule became effective over the weekend on October 3rd. Last Friday the CFPB released a letter informing institutions how this new rule will be handled during initial examinations. [10/5/15]
