Mortgage industry: Give us a “good-faith” grace period on TRID

 · New Changes to TRID May Increase Close Time for Realtors. What changes can realtors expect with TRID? Unless you’ve been out of the country for an extended period of time, you’ve probably heard about the industry-changing TILA-RESPA Integrated Disclosure Rule Implementation (TRID) going into effect on October 3.

A grace period will not only ensure a smoother implementation of the new tila/respa mortgage disclosure forms, but it will also allow those who make a good faith effort to comply with the.

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CFPB throws real estate industry a bone on Aug. 1 enforcement – sort of. other entities should not expect a grace period for TRID implementation.. that it has given the real estate.

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 · Congress will vote next week on a bill that will provide a hold harmless grace period for the CFPB’s TRID Rule, which is set to go into effect October 3.

A grace period will not only ensure a smoother implementation of the new TILA/RESPA mortgage disclosure forms, but it will also allow those who make a good faith effort to comply with the.

The efforts of the CFPB and other FFIEC member agencies fall short of requests by the industry that institutions who have acted in good faith to implement the TRID rule be protected from legal.

Key figures in the housing industry testified before the House Subcommittee on Housing and Insurance Thursday, urging members to support a good-faith grace period for compliance with the massive.

 · TRID is a real obstacle to mortgage process Contrary to some reports.. And while the issues may not be creating giant hurdles in the mortgage industry, they are still a direct result of TRID. According to HousingWire sources, the title industry, for one, is struggling to adapt to the new TRID.

The rule is set to take effect Aug. 1, a time the mortgage industry has deeemed its peak homebuying. on August 1st. That is why we believe that a grace period for those seeking to comply in good.

 · In response to pleas from industry and Congress, the Consumer Financial Protection Bureau (CFPB) announced that it will allow a "grace period" for enforcement of the TILA-RESPA Integrated Disclosures (TRID) rule that takes effect on August 1, 2015.