Integrated Disclosure FAQs
The mortgage industry has seen substantial change over the past few years. The Consumer Financial Protection Bureau (CFPB) introduced the Integrated Disclosure Rules that amended existing requirements for mortgage disclosures:
On October 3, 2015 the Consumer Financial Protection Bureau (CFPB) introduced the TILA-RESPA Integrated Disclosure (TRID) rule, also known as the “Know Before You Owe” mortgage initiative. This set of mortgage loan regulations was created in an effort to make the homebuying process less complex and more understandable for potential homebuyers. It was intended to help consumers understand loan options, comparison shop for the best deal and avoid surprises at closing.
We will continue to share relevant information related to these rules and any others that our business partners may find helpful.