As questions continue to swirl about what exactly the TILA-RESPA Integrated Disclosure rule will mean for the real estate industry, the Consumer Financial Protection Bureau is taking steps to provide additional information to real estate professionals.
Today, the CFPB launched “Know Before You Owe: The Real Estate Professional’s Guide.” The online tool is intended to help industry professionals get up to speed on changes related to TRID that are coming their way.
More importantly for REALTORS®, it’s another opportunity to brush up on what TRID means for closings and keep clients informed about the road ahead. The CFPB reached out to NAR for help sharing this new tool in recognition of the important role that real estate professionals play informing potential home buyers of what they need to know about the process.
Those tools went live this week on the CFPB’s website. TRID goes into effect on October 3, so now’s the time to catch up!