Title agents assess TRID’s effectiveness

The Consumer Financial Protection Bureau (CFPB) has received dozens of comment letters from title agents and settlement attorneys offering recommendations for modifying, expanding or eliminating its TILA-RESPA Integrated Disclosures (TRID) rule.

Many note that the new forms required by TRID can be confusing to consumers. Others said getting finalized Closing Disclosures from lenders three days prior to closing continues to be a problem.

Read on to learn what title agents believe is good and bad about TRID.