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|TRID: Are You Ready?|
TRID: Are You Ready?
Thursday, October 1, 2015 - House to Vote on ALTA Supported TRID Hold-Harmless Bill
June 24, 2015 - The CFPB announced in a Press Release, the selection of Saturday, October 3, 2015, rather than October 1, 2015, as the proposed TRID implementation date.
Wednesday, June 17, 2015 - Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule
“The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”
CFPB Offers new TRID Guide
Title Professionals Will Be Ready For TRID: ALTA Survey
Most title professionals will be prepared when the Consumer Financial Protection Bureau implements its TILA-RESPA Integrated Disclosure rule on Aug. 1, according to the American Land Title Association. Read the survey results here:
ALTA Settlement Statements
The ALTA Board of Governors approved recommendations to adopt four new model ALTA Settlement Statements for title insurance and settlement companies to use in order to itemize all the fees and charges involved in the transaction once the CFPB's TILA-RESPA Integrated Disclosures go into effect August 1, 2015.
ALTA, ABA to Host Webinar on TRID, Best Practices
CFPB: TILA-RESPA Integrated Disclosure Rule Implementation Resources
The CFPB provides a variety of resources to help you comply with TILA-RESPA Integration Rule:
CFPB: Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z)
Read the final rule here: