Description
This course explains the specialized TILA-RESPA Integrated Disclosure rules related to the terms and costs, along with important timing requirements and other restrictions, for certain consumer-purpose mortgage loans. The course clarifies the types of loans that are covered by TRID, as well as the specific requirements for a TRID loan application, and explains the rules that drive information disclosure prior to the creditor providing the loan estimate. Also, the course describes the proper use, delivery to the borrower and revision of the closing disclosure when a loan is consummated.
What You’ll Learn
After completing this course, students will be able to:
- Identify loans covered by the TILA-RESPA Integrated Disclosures (TRID) Rule
- Describe the TRID pre-disclosure rules (including good faith estimates), related critical timing requirements, tolerance provisions and records retention requirements
- Explain the TRID provisions for redisclosures and records retention of Closing Disclosures
