Integrated mortgage disclosures that went into effect last year caused much anxiety for the industry at the time. But the head of the Consumer Financial Bureau says things are moving along smoothly now.
In October 2015, disclosures required under the Truth in Lending Act and the Real Estate Settlement Procedures Act went into effect. The TILA-RESPA Integrated Disclosures became known as TRID.
The was much concern at the time about difficulty integrating information technology systems and getting multiple players on the same page in dealing with the Loan Estimate and Closing Disclosure.
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