Description
Explains the background and purpose of the TILA-RESPA Integrated Disclosure Rules, and provides an overview of the Loan Estimate (LE) and Closing Disclosure (CD) and the timing requirements. Emphasizes factors to comply with TRID rules regarding restrictions on fees, misaligned mortgage rules, and timing requirements.
What You’ll Learn
After completing this course, students will be able to:
- Describe the purpose of the TRID rules and identify the types of transactions that are covered and not covered
- Define the timing requirements for providing the Loan Estimate (LE) and when a revised LE is required and allowed
- Recognize the tolerance variations for three categories of fees
- Explain the timing requirements for providing the Closing Disclosure (CD) and when a revised CD is required and allowed
- Identify important considerations for complying with TRID rules
