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CFPB’s TRID Amendments: Understanding the Clarifications & New Expectations

Friday, November 10, 2017

8:00 am – 9:30 am PT
9:00 am – 10:30 am MT
10:00 am – 11:30 am CT
11:00 am – 12:30 pm ET

The CFPB amended the TILA/RESPA Integrated Disclosure (TRID) requirements and adopted a mandatory compliance date of October 1, 2018. The TRID amendments contain important clarifications and technical changes that all mortgage lenders must understand before October 1, 2018. These amendments address tolerances for the total of payments; guidance on sharing disclosures with other parties; affiliate charges; calculating cash to close; the “in 5 years” calculation; lender and seller credits; rate locks; construction loans; decimal places and rounding; escrow account disclosures; written list of service providers; expiration dates for closing costs disclosed on the Loan Estimate; simultaneous second-lien loans; partial payment policy disclosures; good-faith determination of property taxes and property value; and many other topics. Given the scope of the amendments, all mortgage lenders need to review and analyze these changes.

Importantly, the CFPB is allowing mortgage lenders the flexibility to implement the changes all at once, or phase in changes before October 1, 2018. This flexibility will allow mortgage lenders to update procedures and disclosure practices on their own timeline, resulting in better management of the implementation process. This webinar will analyze the 560 pages of TRID amendments and provide a summary of the key changes and action items.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Analysis of key changes and clarifications of the TRID requirements
  • Specific changes and how they impact disclosure obligations
  • Categorization of the amendments based on potential impact (e.g., easy changes to more complex)
  • Review of new privacy and information sharing expectations – including separate disclosures for borrowers and sellers
  • Action items to kick-start your implementation plan

  • TAKE-AWAY TOOLKIT
    • Summary of changes to the TRID requirements
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

RELATED WEBINAR STILL AVAILABLE!

"Surviving a TRID Compliance Exam"
Wednesday, October 4, 2017

WHO SHOULD ATTEND?

This informative session is designed for mortgage lenders, compliance staff, and audit teams. Having representatives from each department will ensure everyone is on the same page regarding the new amendments.

PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER