Updated TRID Small Entity Compliance Guide

The CFPB released version 5.0 of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October 10, 2017.  Compliance with the amendments will be required for applications received on or after October 1, 2018. Updates to the Guide include: requirements and guidance on current requirements for tolerances in the good … Read More

CFPB Provides Clarification on TRID Expectations & Liability

In December, the CFPB responded to a letter from the Mortgage Bankers Association regarding “lingering misperceptions and technical ambiguities” in TRID regulations. The CFPB’s letter states that, given inevitable yet unintentional errors in the early stages of the mortgage industry’s implementation of the regulations, regulators’ initial examinations will focus on industry members’ good faith efforts to ensure compliance with the rule. The CFPB … Read More