TRID Archive

CFPB ‘Know Before You Owe’ Announcement May Offer Relief for Agents on Disclosure Sharing

In an update to the “Know Before You Owe” mortgage rule, the Consumer Financial Protection Bureau stated clearly that it is “usual, accepted, and appropriate” for real estate agents and brokers to have access to the Closing Disclosure. The...

NAR Weighs In On ‘Know Before You Owe’ Fixes

This week marked the deadline for comments on the Consumer Financial Protection Bureau’s proposed fixes for the ‘Know Before You Owe Rule,’ and National Association of Realtors® President Tom Salomone weighed in to highlight Realtors®’ concerns. In a letter to...

Realtors® Mark Know Before You Owe Anniversary with Survey Showing Challenges Remain:

The Consumer Financial Protection Bureau’s “Know Before You Owe” rules went into effect one year ago today, and according to fresh survey data from the National Association of Realtors®, there’s still work ahead to get it right. “Looking back...

Salomone: CFPB Recognizes “There are Lingering Challenges to Address”

WASHINGTON (April 29, 2016) — The following is a statement by National Association of Realtors® President Tom Salomone in response to the Consumer Financial Protection Bureau’s letter announcing a Notice of Proposed Rulemaking to bring further clarity to and...

In Depth: CFPB’s Homebuyer’s Toolkit

 The Consumer Financial Protection Bureau unveiled updates to its “Owning a Home” toolset for consumers last week at an event in the Washington, D.C. office of the National Association of Realtors®. According to the CFPB, the new tools “help...
September 21, 2015

NAR Surveys Members On TRID Preparedness, Training:

Whether you call it “Know-Before-You-Owe,” TRID, or the TILA-RESPA Integrated Disclosure, the Consumer Financial Protection Bureau’s new rule goes into effect soon. On October 3, big changes kick into gear that will change some key components of the closing...
September 1, 2015

New tool to help REALTORS® prepare for TRID

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...
August 14, 2015

It’s official! TRID implementation moved to October 3:

In case you missed it, the Consumer Financial Protection Bureau announced this week that the proposed TILA/RESPA Integrated Disclosure, or TRID, will go into effect on October 3, rather than the originally-scheduled August 1 deadline. That’s great news. NAR...
July 23, 2015

Wondering what TRID means for closings? Get informed!

The TILA-RESPA Integrated Disclosure is coming soon. The HUD-1, Good Faith Estimate, and Truth in Lending Act disclosures are going away, and a new Loan Estimate and Closing Disclosure will take their place. If you have questions about what...
July 14, 2015