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Most Common TRID Issues

Our goal is to ensure you understand where the TRID rules can create uncertainty and risk, and insulate your institution as much as possible from noncompliance.

OnDemand
Recorded Monday,
December 19th, 2022
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Lending
  • Lending Compliance
  • Bank Legal Counsel
  • Branch Manager
  • Compliance Officer
  • Facilities Manager
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Senior Management
  • Workout Specialist/Collector

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Even several years after the TILA-RESPA Integrated Disclosures (TRID) rule has been effective, along with a couple tweaks by the CFPB, compliance has been elusive. The rules can be so detailed and prescriptive that 100% accuracy is near impossible. After a year of light-touch exams, where lenders were expected to demonstrate a “good faith effort to comply,” scrutiny of TRID disclosures has become quite intense. Plus, when you consider the legal liability of inaccurate disclosure of the many fees, identifying the many hot spots of TRID becomes paramount.

In this webinar, we’ll explore those hot spots, gray areas, and frequently-violated provisions. We’ll spend time discussing the timing of the various disclosures (which can get quite complicated), disclosure of fees, and calculating tolerances and potential reimbursement issues. Our goal is to ensure you understand where the TRID rules can create uncertainty and risk, and insulate your institution as much as possible from noncompliance.

What You'll Learn

  • Coverage issues – straightforward but still a challenge
  • Application issues – data points, preapprovals, and more
  • The complicated timing rules of TRID: the 3-day LE rule, 7-day LE rule, and the 3-day CD rule. Making sure you count correctly.
  • Problems with disclosure of various fees
  • Providing a revised Loan Estimate – when can you do this? How does it impact tolerance issues?
  • Changed Circumstances – what this does and what it does NOT do
  • Proper calculation of tolerances/variances – what is your baseline?
  • Corrected CDs – timing is everything
  • Redisclosure and reimbursement after closing

Who Should Attend

Loan officers, compliance professionals, auditors, QA/QC staff, processors, management, legal staff, and anyone else involved in the consumer mortgage application, processing, and closing processes will benefit from the information in this webinar.
Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Most Common TRID Issues has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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