Life Under TRID: Title Agents Slam CFPB’s TRID Clarifying Rulemaking
September 6, 2016
Hundreds of title agents across the U.S. responded in an organized letter-writing campaign and flooded the CFPB’s inbox with negative comments about the bureau’s attempt to clarify a number of issues related to its controversial TILA/RESPA Integrated Disclosure Rule, otherwise known as TRID.One title insurance professional commented that the CFPB missed an opportunity to change the closing disclosure’s calculation of title fees. “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs,” she said. “This provision of the rule defeats the bureau’s own mission to provide consumers with a better understanding of their transaction.” The title agent urged the CFPB to fix this problem immediately so consumers will have a clear ...