Nation: CFPB Clarifies TRID

NAR has been actively monitoring the implementation of the “Know Before You Owe” also known as the TILA-RESPA Integrated Disclosure rule by the Consumer Financial Protection Bureau (CFPB). Feedback from REALTORS across the nation highlighted the reluctance of lenders to share the new mandated Closing Disclosure (CD) with real estate professionals. Lenders have been refusingContinue reading “Nation: CFPB Clarifies TRID”

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 canContinue reading “Nation: NAR Wants TRID Guidance”