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Home » Mortgage Lenders Adopted TRID Without Major Issues, CFPB Finds
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Mortgage Lenders Adopted TRID Without Major Issues, CFPB Finds

September 25, 2017
The latest supervisory highlights report from the CFPB found that mortgage lenders, banks and nonbanks alike, put the controversial TILA/RESPA Integrated Disclosure rule – TRID – into effect without much of a problem, more or less. “Initial examination findings and observations conclude that, for the most part, supervised entities, both banks and nonbanks, were able to effectively implement and comply with the Know Before You Owe mortgage disclosure rule changes,” the report stated. However, examiners did find some violations relating to the content and timing of loan estimates and closing disclosures. The problem, however, is that the CFPB does not indicate in these reports which lenders or how many of them may have been guilty of the infractions, so there’s no way ...
News Inside Mortgage Finance Inside the CFPB Originations Regulation Supervision & Examination TILA RESPA
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