CFPB ISSUES TRID AMENDMENTS FINAL RULE

On July 7, 2017, the CFPB published “Updates to [the] ‘Know Before You Owe’ Mortgage Disclosure Rule,” to provide more clarity and greater certainty, as well as include technical corrections and amendments. The 560 page document includes: Changes to the assistance loan exemption Expansion of the KBYO/TRID rule for loans on cooperatives Total of Payments calculations and related tolerances The use of informational Loan Estimates Clarifications regarding the Written List of Providers Greater clarity for sharing information among settlement service providers Changes regarding Construction Loans…

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