The Consumer Financial Protection Bureau offers an online “Real Estate Professional’s Guide” to help you and your clients understand the new TILA-RESPA Integrated Disclosure rule, or TRID, that took effect Oct. 3.
The guide, part of the bureau’s larger “Know Before You Owe” initiative, include a look at the new mortgage closing forms and a closing fact sheet. Also included on the site are a disclosure timeline and educational videos.
The National Association of REALTORS® has been working with the CFPB to communicate the resources available to REALTORS® and to address the impact TRID will have on closings. Access the guide here.