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Tag Archives: CFPB

TRID’s Mixed Reviews 6 Months Later

CFPB

Many in the mortgage industry have complained of the complexity of implementing the rule and the difficulty of complying, despite the rule’s goal of making it easier on all parties involved to close a mortgage loan. But do homebuyers share these same sentiments?

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Did TRID Offer Large Lenders a Helping Hand?

When the CFPB implemented the TRID rule, lenders were faced with the new challenge of altering their disclosure and closing processes. Now the question is which lenders, large or small, were able to come out on top following the TRID regulation.

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Does This Advocacy Group Have the TRID Answer?

Moody's Investor's Service gave a seal of approval for the Structured Finance Industry Group's TRID compliance proposal, noting that it is adequate to address compliance risks that are likely to cause losses to residential mortgage-backed securitization (RMBS) trusts despite uncertainties.

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Coalition to CFPB: Strengthen Arbitration Clause Ban

A coalition consisting of more than 160 labor unions, civil rights groups, and other advocates has written a letter to CFPB Director Richard Cordray calling for the Bureau to go take its proposed rule to ban arbitration clauses that prevent consumers from bringing class-action lawsuits even further.

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Get Ready, TRID Could Become Less of a Burden Soon

Recognizing the “operational challenges” the industry is experiencing with TRID, Cordray said in a letter that the Bureau is considering making some “adjustments” in the regulation text to provide greater certainty and clarity.

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