TRID Brings New Rules to the Mortgage Process

TRID Brings New Rules to the Mortgage Process

Now they have finally been completed and implemented by the Consumer Financial Protection Bureau. The new rules are called TILA-RESPA Integrated Disclosure, or TRID. It is meant to make the mortgage process easier to understand and more transparent. This is done through two new forms, rules about timing and strict regulations about changes. TRID is sure to take some time to get used to for real estate agents, lenders, buyers and sellers.