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Before you search elsewhere, take advantage of the research we've already done for you. Formerly known as Field Guides, References tabs contain links to external articles, titles from the NAR Library eBooks collection, websites, statistics, and other material to provide a comprehensive overview of perspectives on each topic. EBSCO articles (E) are available only to NAR members and require a password.
TILA-RESPA Integrated Disclosure FAQs (U.S. Consumer Financial Protection Bureau, May 14, 2021)
The Consumer Financial Protection Bureau’s “list of commonly asked questions and answers on particular topics to assist in understanding and complying with the TRID rules.”
TRID Closing Disclosures Guide (National Association of REALTORS®, Jun. 2020)
Guidance on how TRID regulations apply to common issues regarding combined and separate Closing Disclosures and an agent’s ability to obtain settlement information for both parties to the transaction.
Know Before You Owe: The Real Estate Professional’s Guide (U.S. Consumer Financial Protection Bureau)
Information and printable resources for real estate professionals to help their clients understand CFPB’s “Know Before You Owe” mortgage initiative.
TILA-RESPA Integrated Disclosures (TRID) (U.S. Consumer Financial Protection Bureau)
CFPB’s landing page for “resources to help industry participants understand, implement, and comply with the TILA-RESPA Integrated Disclosure (TRID) rules.”
TRID Background & Updates
Truth in Lending (Regulation Z) Annual Threshold Adjustments (Credit Cards, HOEPA, and Qualified Mortgages) (Federal Register, Dec. 23, 2022)
“The Consumer Financial Protection Bureau (Bureau) is issuing this final rule amending the regulation text and official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau calculates the dollar amounts for several provisions in Regulation Z annually; this final rule revises, as applicable, the dollar amounts for provisions implementing TILA and amendments to TILA, including under the Home Ownership and Equity Protection Act of 1994 (HOEPA), and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Bureau is adjusting these amounts, where appropriate, based on the annual percentage change reflected in the Consumer Price Index (CPI) in effect on June 1, 2022.”
A Refresher on Triggering Events Impacting the Revised Loan Estimate (Wolters Kluwer, Nov. 2021)
“One way to limit tolerance violations is to consider whether the increased fee triggers a revised loan estimate. The TRID rule sets out six events that allow using a revised loan estimate for purposes of re-setting fees and performing the good-faith analysis. Those six events include:
- Changed circumstances that cause an increase to settlement charges
- Changed circumstances that affect the consumer’s eligibility for the loan or affect the value of the property securing the loan
- Consumer-requested changes
- Interest rate locks
- Expiration of the original loan estimate
- Construction loan settlement delays”
CFPB Issues Interpretive Rule on Juneteenth-Related Mortgage Closing Delays (ABA Banking Journal, Aug. 5, 2021)
“Today’s guidance addresses Regulation Z timing requirements related to rescission of closed-end mortgages and the TILA-RESPA integrated disclosures. It clarifies that “if the relevant closed-end rescission or TRID time period began on or before June 17, 2021, then June 19, 2021 was considered a business day, but nothing prohibits creditors from providing longer time periods. Therefore, it would also be compliant for creditors to have considered June 19, 2021 a Federal holiday for purposes of these provisions.””
CFPB Issues TRID Rule FAQs on BUILD Act Partial Exemption (Ballard Spahr, May 17, 2021)
The recent update to CFPB’s TRID FAQ document addresses “a partial exemption added by the Building Up Independent Lives and Dreams Act (BUILD Act) that became law in January 2021. Before the adoption of the BUILD Act, Regulation Z under TILA already included a partial exemption from the Loan Estimate and Closing Disclosure requirements of the TRID rule for subordinate housing assistance loans that met certain conditions. The BUILD Act added a partial statutory exemption from such requirements for similar transactions”
2019 CFPB Closing Process Rules Survey
(National Association of REALTORS®
, Jan. 24, 2020)
NAR’s survey of member experiences with TRID or “Know Before You Owe” disclosures finds that “overall, respondents have not observed any change in their or consumers’ general experiences or behavior. However, thirty percent reported that their ability to close a transaction on time has decreased slightly due to TRID.”
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