July 29, 2016

CFPB Releases List of Proposed TRID Changes

On Friday, July 29, the CFPB released its list of proposed amendments to TRID.  
According to the CFPB, "The proposed amendments memorialize the Bureau’s informal guidance on various issues and include clarifications and technical amendments. The Bureau is also proposing tolerance provisions for the total of payments, an adjustment to a partial exemption mainly affecting housing finance agencies and nonprofits, extension of coverage the integrated disclosure requirements to all cooperative units, and guidance on sharing the disclosures with various parties involved in the mortgage origination process."
TLTA is currently in the process of reviewing the 293-page list of amendments. Unfortunately, it appears that the CFPB has not addressed the simultaneous issue problem. If we learn something more about this issue, we will let you know.
If you have questions, please contact Aaron Day, Director of Government Affairs and Counsel, at 512.879.2881 or aaron@tlta.com.