House to vote on making TRID grace period official through end of 2015
Vote will come days after TRID is enacted
Just days after the new TILA-RESPA Integrated Disclosure rule goes into effect on Oct. 3, the House of Representatives will vote on a bill to formalize the Consumer Financial Protection Bureau’s hold harmless grace period. Sources tell HousingWire today that the vote should come Oct. 7 or Oct. 8 this week.
Will it be enough?
What does a post-TRID world look like?
D-day is upon us. TRID-day that is. So, what exactly does a post-TRID world look like? HousingWire spoke with Terry Moore, senior managing director at Accenture Credit Services, about how much different real estate and mortgage finance will be going forward.
Here’s how TRID will impact real estate transactions
Will it now take longer to close?
TRID will have an impact on mortgage finance and real estate up and down the pipeline. We asked a prominent Florida Realtor how she thinks it will affect homebuyers and sellers, as well as Realtors.
NAR president: Realtors ready for TRID, but grace period welcome
Says challenges still ahead
The new TILA-RESPA Integrated Disclosure rule goes into effect on Oct. 3, and the National Association of Realtors thinks its members will be ready. Nonetheless, giving the industry a grace period couldn’t hurt. But we aren’t quite there, yet.
Industry voices concern over looming TRID-related delays, headaches
Quicken, NAR, others tell WSJ of potential issues
Well, it’s coming Saturday, whether you like it or not. Oct. 3 marks the effective date of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule or TRID. And some in the industry are voicing concerns about potential issues they are about to face.
TRID aftermath: Resolving the thorny problems that remain
The industry continues call for a formalized grace period
Kevin Wall, president of First American Title Insurance Company’s Mortgage Solutions group, explained that in the case of recording fees, for example, the actual fee is something that is often unknowable at the time of disclosure under TRID. In a purchase transaction, recording fees are almost always calculated on a per-page basis and one of the documents to be recorded is the deed. But under the disclosure timing mandated by TRID, the disclosure may often take place before the deed is even prepared.
Article Published via housingwire.com