On October 18, 2016, NAR sent a letter to the Consumer Financial Protection Bureau (CFPB) commenting on its recent proposed rule amending the Know Before You Owe (KBYO) regulation, or “TRID.” While KBYO has resulted in more transparency for consumers and better accountability of financial institutions, ongoing compliance issues remain, costing time and money forContinue reading “Nation: NAR Comments on TRID Rulemaking”
Tag Archives: Know Before You Owe
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”
IRES MLS: Come Home to Colorado 