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Tag Archives: TILA-RESPA Integrated Disclosure Rule

House Passes Bipartisan Bill to Provide Formal TRID Grace Period

The Homebuyers Assistance Act (H.R. 3192), provides the mortgage industry with a grace period through February 1, 2016 by protecting them from enforcement actions if they make a good faith effort to comply with the TRID regulation. The Act passed through the House Financial Services Committee last week. The White House attempted to veto the Homebuyers Assistance Act on Tuesday, according to a Statement of Administrative Policy.

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TRID: Into the Great Unknown

The fact that there is no transition period between using the HUD-1 and the new Closing Disclosure Form might be problematic, according to Bankrate.com senior mortgage analyst Holden Lewis.

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CFPB Sets Final TRID Rule Effective Date

The Consumer Financial Protection Bureau has finally set an official effective date for the TILA-RESPA Integrated Disclosures rule, after much debate and numerous industry requests to delay the rule. The CFPB issued a final rule moving the effective date to Saturday, October 3, 2015 on Tuesday.

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CFPB Issues Proposed Amendment to Delay TRID Effective Date Until October 3

The Consumer Financial Protection Bureau (CFPB) has announced a proposed amendment to the Know Before You Owe mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which would move the effective date of the rule to Saturday, October 3, 2015. According to CFPB, the Bureau is issuing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015.

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