Amendments have been finalized for integrated disclosures required under the Truth in Lending Act and the Real Estate Settlement Procedures Act. In addition, comments are sought for a new proposal.
New TILA-RESPA integrated disclosures as required by the Consumer Financial Protection Bureau’s Know Before You Owe rule became effective in October 2015.
TRID was designed to streamline the disclosures that are provided to consumers when they apply for, and close on, a mortgage.
Source: Mortgage Daily
