WASHINGTON—The CFPB has released a new set of FAQs under the TILA-RESPA Integrated Disclosure (TRID) rule, specifically related to providing loan estimates to consumers.
The five questions can be accessed here.
The Bureau notes that reviewing these questions and answers is not a substitute for reviewing TILA, RESPA, Regulation Z or its official interpretations, NAFCU noted.
NAFCU added that it has various resources available on TRID, including two popular blogs: One that explains the bureau's fix to the TRID "black hole," and another detailing "TRID 2.0" compliance deadline related to statutory damages and errors in loan estimate or closing disclosure.