Problems With TRID Continue to Mount, Industry Presses to Adapt While Awaiting New Rulemaking
June 16, 2016
The Consumer Financial Protection Bureau plans to develop another rule to resolve some of the mortgage industry’s problems with the CFPB’s integrated disclosure rule may provide some psychological relief for lenders. But it’s certainly not solving any of the problems they are struggling with right now, problems that continue to emerge as the months since implementation roll on. Among the host of concerns that have sprung up related to the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule – TRID – is the raft of issues having to do with settlement agents. Delivering a presentation at the American Bankers Association’s regulatory compliance conference this week, Richard Horn, a former CFPB official, said...