DIRT on TRID Question 2.1

What is TRID?

Blog Header

The TILA-RESPA rule (TRID)– is meant to make the disclosure documents used during a transaction more consumer friendly and to move the industry towards a paperless transaction. The rule combines the current four disclosures. Check out the CFPB’s break down below:

2.1

Don’t recognize the new Jargon? Here is a handy chart to help with the transition: 

 New Jargon

To find more specifics visit:

www.closing-disclosure.com

www.cfpb.gov