CFPB Makes Two Modest Changes to the TRID As Industry Hustles Toward August Compliance Deadline
January 22, 2015
The Consumer Financial Protection Bureau this week made final two tweaks to its integrated disclosure rule that were proposed back in October, both of which will give mortgage lenders a little more flexibility. Under the first change, lenders will have to provide a revised loan estimate within three business days after a consumer locks in a floating interest rate. Under the original rule, lenders would have had to provide the revised LE on the date the rate was locked. “After hearing feedback from stakeholders, the bureau determined...