RECENT TRID GUIDANCE – FACTSHEET AND FAQS

Posted on by jholzknecht

On June 9 the Consumer Financial Protection Bureau (CFPB) published a nine-page booklet entitled Factsheet:  TRID Title Insurance Disclosures. The factsheet clarifies the disclosures for both Lender and Owner’s Title Insurance, including the disclosure of a simultaneous issuance. Several helpful examples are included.
On June 9 the CFPB also published three new Frequently Asked Questions (FAQs). The new FAQs explain:

  • Seller-Paid Loan Costs and Other Costs on Separate Closing Disclosures to the Seller and the Consumer;
  • What is the Total of Payments Disclosure;
  • Does a Creditor Account for Negative Prepaid Interest in the Total of Payments; and
  • Optional Signature Line.