With Fannie Mae and Freddie Mac only checking that the new TRID forms are being used on its loans, a lack of due diligence for completely complying with TRID rules exposes the GSEs’ credit-risk transfers to some incremental losses, according to Moody’s Investors Service.This is especially true for CRTs with an “actual loss” structure, said Moody’s. The rating service added that it will be a credit negative for the transactions since there’s no transparency in how many loans in future GSE-sponsored CRT transactions will contain material TRID violations. In October, the GSEs issued guidance noting that they expect seller/servicers to make good faith efforts to comply with the TRID rule.