Nation: NAR Wants TRID Guidance

On June 7, 2016, NAR sent a letter to the CFPB asking the Bureau to issue specific written guidance on the Know Before You Owe regulation, or “TRID,” in its upcoming Notice of Proposed Rulemaking.  Reliable, written guidance is critical for effective implementation of the rule.  NAR urged the Bureau to 1) clarify that lenders can share the Closing Disclosure (CD) with third parties if the lender receives a consent form from the consumer, 2) provide additional guidance to lenders about revising the CD to reflect changes in circumstances, and 3) extend post-consummation timelines to correct minor Know Before You Owe errors.

This entry was posted in Gov't Affairs, Govt - Nation, Govt - National Assoc. of Realtors® (NAR) and tagged , , , , , , , , , , . Bookmark the permalink.

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