California Realtors get free seller digital disclosures tool

The two companies have developed Smart Seller Tools, a service that allows sellers to fill out their disclosure forms online. Members of the California Association of Realtors (C.A.R.) can now offer their clients free access to Sellers Shield.

Know Before You Owe: A Work in Progress

The Consumer Financial Protection Bureau’s (CFPB) “Know Before You Owe” harmonization of the Truth in Lending Act and the Real Estate Settlement Procedures Act (TILA-RESPA, or TRID) has been a work in progress for several years, overhauling mortgage disclosure practices to improve clarity with the home-buying process. With the CFPB’s guidance and willingness to reduce […]

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CFPB Finalizes ‘Know Before You Owe’ Updates

The Consumer Financial Protection Bureau (CFPB) recently finalized updates to the TILA-RESPA Integrated Disclosure rule (TRID), or “Know Before You Owe,” including clarifying the sharing of the Closing Disclosure (CD) with third parties—a concern for many in the housing industry since the rule’s implementation in October 2015. “The Bureau understands that it is usual, accepted, […]

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TRID update: It’s ‘appropriate’ for agents and brokers to access Closing Disclosure

The CFPB finalized updates to the 560-page TRID rules, including an update about privacy and sharing of information that should make it easier for agents and brokers to access the Closing Disclosure. …

Happy birthday, TRID: A year in, here’s what Realtors think of you

Monday marked an important anniversary in the industry, though it’s doubtful that any real estate offices busted out the champagne to celebrate a controversial 1,800-page, sweeping reform of the mortgage transaction process that took effect on Oct. 3, …

Good news: Realtors can now access the Closing Disclosure, says CFPB

When the Consumer Financial Protection Bureau (CFPB) announced several changes to the closing process that became effective in October, real estate agents and brokers had a few major concerns about the new rules. The biggest initial concern involved de…

NAR to CFPB: Give us access to the Closing Disclosure

When the new disclosure rules were rolled out in October of last year, the biggest concern in the real estate industry was that the TRID (TILA-RESPA Integrated Disclosures) rule would delay closings, causing snafus in buyer and seller timelines. Howeve…

TRID, take 2?

If you have ironed out your bugs and confusion in the seven months since the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rule took effect, don’t get too comfortable. More changes to the biggest mortgage transaction overhaul we’ve had in four decades are on the way. In a letter issued to several banking and financial services industry trade groups yesterday, the CFPB said it has “begun drafting a notice of proposed rulemaking on TRID, or the “Know Before You Owe” rule, as the bureau prefers to call it …

Is TRID helping consumers like the CFPB intended?

Plenty of industry surveys have shown that the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure (TRID) rule has negatively impacted real estate agents, lenders and settlement agents, but how has the mortgage transaction overhaul affected borrowers — the very people the bureau intended to help in creating the rule …

10 reasons why mortgage investors are rejecting TRID loans

The other shoe has dropped: With thousands of loans closed under the new regulatory regime now making their way to the secondary market, investors are refusing to buy them due to compliance problems and loan document errors …