We are almost 3 years into the TRID rule implementation. How are things going for you? You've probably run into many of the same issues many of your peers are, and you likely have many of the same questions. As well, regulators are identifying common issues in TRID compliance. Plus the CFPB just released its long-awaited 560-page final rule with clarifications to many confusing areas.
This webinar is intended to review and discuss many of the major issues lenders are facing with TRID (TILA-RESPA Integrated Disclosure). There are many pain points in both the new loan process and disclosures that we'll review in order to formulate some best practices. We'll talk specifics about the Loan Estimate and Closing Disclosure, as well as some of the frequent violations discovered so far.
- Tolerance fixes
- Clarifications on providing disclosures to third parties
- Additional proposal on using a CD in certain tolerance situations
- Many other clarifications and technical corrections on problematic issues
- Concerns and issues related to the timing and delivery of the Loan Estimate and the Closing Disclosure - ensuring compliance and fixing processes
- Issues around the content of the Loan Estimate and the Closing Disclosure - specific line items and questions
- Variations/tolerance issues - what is the baseline? How and when should we remediate
- Documenting changed circumstances - perhaps the most important thing you can do
- Changes before closing - is a new waiting period required?
- Nailing down the application process, including pre-quals and preapprovals (is there a such thing anymore?)
- Keeping straight the business day differences and the mailing rule
- When to rely on automation vs. when not to
- Proving your good faith efforts to comply
- And more
Who Should Attend?
Anyone in the institution having responsibilities in the consumer mortgage environment, including loan officers, processors, clerks, closing agents, and so forth. Also compliance officers and counsel will benefit from the information provided in this webinar.
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