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Home » CFPB Fixes “Black Hole” Issue In the TRID Rule
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CFPB Fixes “Black Hole” Issue In the TRID Rule

April 30, 2018
The CFPB last week finalized a proposed amendment to its “Know Before You Owe” rule, fixing what is commonly known in the industry as the “black hole” issue. The final rule adopts a July 2017 proposal with only minor, technical changes. In broad terms, it gives lenders more flexibility in issuing revised closing disclosures that comply with the complex disclosure requirements mandated by Truth in Lending Act and Real Estate Settlement Procedures Act ...
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