REMINDER: CD and TD Required in All TRID Transactions – Other Settlement Forms Optional
Recently, TDI has brought to our attention that some confusion remains about which forms are required and which forms are optional for use with a Closing Disclosure (CD).
To help you stay in compliance, TLTA created "Compliance FAQs: Which Settlement Statement Forms are Required and Which Are Optional With TRID?
" Published in January 2016, these FAQs are an important resource that can help you address this issue and prevent problems.
IMPORTANT: What is most important to note is that in transactions where a Closing Disclosure (CD) is required by the CFPB, a Texas Disclosure (TD) is also always required by TDI. Other forms such as the ALTA Uniform Settlement Statement or other similar closing/disbursement statements may be used in addition, but they are optional. Additionally, when TDI conducts an audit, they look in the file to make sure that both the CD and the TD are there; so to be compliant, you should always include those two required forms in the file, regardless of any other optional settlement forms your company may choose to use.
We hope you find this FAQ helpful. If you have any questions about it, please let us know.