Industry Scrambled Up to Last Minute to Get Ready for TRID; Real Market Impact Expected in Weeks Ahead
October 8, 2015
Some mortgage lenders and their vendor partners scrambled until late in the night this past Friday to get all their ducks in a row for the Saturday effective date of the Consumer Financial Protection Bureau’s integrated disclosure rule. Many in the industry were relieved when the CFPB and other federal regulators issued last-minute guidance affirming that they will recognize the good-faith efforts of the mortgage industry to comply with the new rule. “During initial examinations for compliance with the rule, the agencies’ examiners will evaluate...