TRID (TILA-RESPA Integrated Disclosure)

The CFPB has issued a rule that is aimed to simplify and improve disclosure forms for mortgage transactions. The rule replaces the current forms with two new forms: the Loan Estimate, given three business days after application, and the Closing Disclosure, given three business days before closing. Lenders are required to give consumers these forms for mortgage applications submitted on or after October 3, 2015.

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