Tag Archives: TILA-RESPA Integrated Disclosure

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.

The TILA-RESPA Integrated Disclosure (TRID) shook the mortgage industry over two months ago, and it's after-effects are still being felt around the industry.

Amid all the consternation about the looming TILA-RESPA Integrated Disclosure Rule effective date of October 3, one analyst believes that the biggest unknown about TRID is just that—unknown.

Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. This piece features Brad Schaltenbrand, director with Navigant’s Financial Services Practice, discussing a few TRID-related concerns among lenders and some viable solutions to these issues.

The Credit Union National Association (CUNA) has asked the Consumer Financial Protection Bureau (CFPB) to delay implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule, also called the Know Before You Owe Mortgage Rule, until January 1, 2016. CUNA, which represents America's credit unions and their more than 100 million members, issued their request in the form of a comment submitted via email on CFPB's proposal that would delay the effective date of TRID until October 3, 2015.

Arch Mortgage Insurance Company a leading provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd., announced today the launch of a new online resource to provide information and resources to lenders to help them prepare for the expected October 3, 2015 launch of the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rules.

NetDirector, a provider of cloud-based data and document exchange services for the mortgage banking industry, recently signed an agreement with enterprise lending solutions provider, Mortgage Machine Services, to enable them to comply with the upcoming TILA-RESPA Integrated Disclosure (TRID) requirements, according to a recent press release.

The Consumer Financial Protection Bureau (CFPB) has announced a proposed amendment to the Know Before You Owe mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which would move the effective date of the rule to Saturday, October 3, 2015. According to CFPB, the Bureau is issuing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015.

Upon the announcement, many lenders, servicers, and other industry members weighted in with their feedback in interviews with MReport, with many expressing their gratitude and detailing the company adjustments they plan to initiate if the proposal is approved.

Torrance-California based DocMagic, Inc., has announced that the company will be fully TRID complaint by August 1, regardless of when the new rule actually takes effect. DocMagic is a provider of fully compliant loan document preparation, compliance, and eSign and eDelivery solutions.