TRID...the annoying loan compliance guest who just won’t go away! So much of your compliance efforts over the last several years have been devoted to implementing TRID and ensuring your disclosures are provided to your borrowers in a timely manner and that they are accurate. TRID rules are continuing to grow and evolve. And the examiners are diving deeper into your disclosures and processes to ensure you are providing accurate documents to your applicants and borrowers.
During this session we will review sample integrated disclosures for a fixed rate, adjustable rate, and construction loan. In reviewing these documents we will discuss regulatory requirements, dive into the guidance, and review common errors made by bankers when completing the LE and CD.
- Define loans covered by TRID rules
- Distinguish between the “purpose” under TRID versus HMDA versus URLA
- Explain when a revised Loan Estimate is necessary
- Understand requirements for single-close and separate construction and permanent phase closings for construction loans
- Review your projected payment amounts and other calculations for accuracy
- Test charges subject to tolerance standards
- Recognize when a corrected CD is required
Who Should Attend?
This informative session is designed for Loan Officers, Loan Operations personnel, Compliance Officers and your Internal Auditor.
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