2015 Mortgage Conference: RESPA-TILA TRID Overview
On June 3, 2015, the National Association of REALTORS® and the Community Mortgage Lenders of America (CMLA) hosted a meeting in Arlington, Va., to discuss the latest information in the mortgage, title and housing industry. Attendees heard from government officials, industry leaders and NAR senior staff on a variety of subjects including TILA-RESPA Integrated Disclosure (TRID) issues, RESPA enforcement, FHA, Fannie Mae and Freddie Mac reform, the state of the economy and other key topics.
This panel focused on the new TRID forms that were to be implemented on August 1, 2015. However, the Consumer Financial Protection Bureau (CFPB) has proposed delaying implementation until October 3, 2015. Panelists gave a brief summary on why the new forms were created, provided an overview of the new disclosure forms, and highlighted how the new requirements will impact the settlement process.