House Considers Legislative Changes to TRID

According to an article in HousingWire, the House of Representatives could soon consider revisions to the Consumer Financial Protection Bureau's (CFPB) TRID Disclosure rules. Draft legislation, titled "TRID Improvement Act of 2017", and sponsored by Rep. French Hill (R-AK), would expand the time period granted to creditors to cure good-faith violations from 60 days to 210 days, and would "allow for the calculation of a simultaneous issue discount when disclosing title insurance premiums." The proposal was one of several items examined during a recent House Financial Services subcommittee hearing. The article notes that the bill’s proposed changes come before the CFPB's finalized updates to TRID take effect.

SFIG is committed to continuing to work with its membership, other trade associations, Congressional representatives, and the CFPB to bring certainty to such rules and how they will be enforced. If you are a member, and would like to view the SFIG RMBS 3.0 TRID Compliance Grid, please click here. If you have any questions regarding the topic, please contact William.Innes@sfindustry.org.

wagers
Terms and Conditions | Privacy Policy