Realtor Advice

TRID – Help with the New Mortgage & Settlement Process

d0c7b-closed_mortgage_filesReal estate agents need to make sure they understand the new Loan Estimate (LE) and Closing Disclosure (CD) process.  As the HUD-1 and the GFE forms go away, real estate agents are in the best position to help guide home-buyers through the new process.

It seems that the CFPB reached out to NAR for help in spreading the word about a new tool addressing questions about what exactly the TILA-RESPA Integrated Disclosure (TRID) rule will mean for the real estate industry.

The CFPB launched “Know Before You Owe: The Real Estate Professional’s Guide.” The online tool is intended to help industry professionals get up to speed on changes related to TRID that are coming their way. For real estate agents it’s another opportunity to brush up on what TRID means for closings and keep clients informed about the road ahead. Those tools went live this week on the CFPB’s website.

Please contact the Jeff Baxter Mortgage Team for assistance with the new process.  We are speaking to local real estate offices to help spread the knowledge.  Contact Jeff to schedule a presentation.

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