TRID: More Changes Adopted But No “Black Hole” Fix (Yet) (Volume 34, Number 1–January 2018)
Author: Robert M. Jaworski.
Source: Volume 34, Number 01, January 2018 , pp.1-8(8)
Abstract:
In adopting its Final Rule amending TRID, the CFPB did not address several issues of concern to the industry, but did make many significant decisions that are reflected in the rule. The author discusses some of the most important of these decisions, from treatment of cooperatives to calculating the Cash to Close Table, as well as the omissions, which primarily concern liability, cures and simultaneous lender’s and owner’s title insurance. He ends with a discussion of the CFPB’s new proposal to close the Black Hole.Keywords: TILA-RESPA Integrated Disclosures Rule; Treatment of Cooperatives; Loans to Trusts; Partial Exemption for Housing Assistance Loans; Revised Loan Estimates
Affiliations:
1: Reed Smith, LLP.