Tag Archives: TRID

Nation: NAR Comments on TRID Rulemaking

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”

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”

Colorado Association of Realtors: Legislative Update

CAR’s Legislative Policy Committee (LPC) held its first meeting of the session last week. Vice-President for Public Policy Ted Leighty and contract lobbyist Jason Hopfer told the LPC that the Homeowner Opportunity Alliance (HOA), of which CAR is a member, is still debating some compromises to the proposed construction defect bill and is waiting toContinue reading “Colorado Association of Realtors: Legislative Update”

CFPB Proposes TRID Delay

On June 17 the Consumer Financial Protection Bureau (CFPB) announced that it would propose to delay the RESPA/TILA Integration or TRID until October 1 due to issues with the Administrative Procedures Act and also to push implementation further into the fall after school starts. NAR has been leading the effort to ensure an effective implementationContinue reading “CFPB Proposes TRID Delay”