Potential Clarification on TRID Forms Coming in July
Is your credit union struggling with the Know Before You Owe rules put in place by the CFPB? If so, there may be some light at the end of the tunnel we call TRID compliance. Recently, Director Cordray sent a letter to CUNA and other industry trade groups acknowledging the operational struggles that compliance with the forms has posed. The letter indicated the CFPB is developing a Notice of Proposed Rulemaking that could be released as early as July. Can’t wait for the CFPB to issue clarification? Let CURx help you navigate the Know Before You Owe mortgage disclosure forms.
You can read the full text of the letter posted by CUNA by using the link below.