Tag: closing disclosure

TRID has Arrived for Home Loans on October 3rd 2015

Posted on September 25, 2015 by - Buying a Home, Local Michigan, Refinance

What is TRID for Home Loans? The CFPB (Consumer Finance Protection Bureau) issued the TILA-RESPA Integrated Disclosure Rule (TRID) which will go into effect on 10/3/15.  The purpose of TRID is to help home loan clients understand mortgage transactions by simplifying important forms and disclosures. TRID will be followed by all banks and mortgage lenders… Read more »

New Loan Estimate Form and Closing Form for 2015

Posted on December 4, 2014 by - Buying a Home, Local Michigan, Mortgage Tips

November 20th the Consumer Financial Protection Bureau (CFPB) released a nearly 2,000 page document relating to RESPA disclosures and Real Estate Closings (If you have a month of free time click here to read). These forms are known as the “Know Before You Owe” mortgage disclosures. This final rule applies to all clients applying for and closing… Read more »