WHAT

The Consumer Financial Protection Bureau (CFPB) published the final rule to implement the integrated disclosures (TRID) on November 20, 2013. The final rule was effective on October 3, 2015. After much industry confusion and concern regarding elements of the regulation, the CFPB released a proposal to update the TRID regulation in July 2016. While the proposal provided guidance on where the CFPB was headed it was still a proposal that could not be relied upon until finalized. That day has finally come! We received the final TRID Amendment on July 7, 2017. This program provides a thorough review of the TRID amendments to ensure your financial institution can:

• Take advantage of the newly clarified provisions within 60 days of the publication of the final TRID amendment; which is expected soon; and
• Comply by the mandatory compliance date of October 1, 2018.

WHY
While many bankers feel that they may have finally mastered the TRID disclosures, these amendments will require change yet again. This two-hour program provides a review of the existing rules with emphasis on the final amendments that will be mandatory beginning October 1, 2018 but will be available for use as soon as 60 days from publication in the Federal Register. Don't miss out on the opportunity to get a jump start on TRID changes!

Participants receive a detailed manual that serves as a handbook long after the program is completed.

This two-hour webinar reviews:

• Creating tolerance requirements for the total of payments;
• Guidance on applying disclosure requirements to coop's;
• Providing guidance on sharing disclosures with various parties involved in the mortgage origination process;
• Clarification and technical amendments that address:
  • Affiliate charges;
  • Calculating cash to close table;
  • Construction loans;
  • Decimal places and rounding;
  • Escrow account disclosures and cancellation notices;
  • Expiration dates for the terms of the Loan Estimate;
  • Gift funds;
  • The "In 5 Years" calculation;
  • Lender and seller credits;
  • Lenders' and settlement agents' respective responsibilities;
  • The list of service providers;
  • Non-obligor consumers;
  • Partial payment policy disclosures;
  • Payment ranges on the projected payments table;
  • The payoffs and payments table;
  • Payoffs with a purchase loan;
  • Post-consummation fees;
  • Principal reduction (principal curtailment);
  • Disclosure and good-faith determination of property taxes and property value;
  • Rate locks;
  • Recording fees;
  • Simultaneous second lien loans;
  • Summaries of transactions table;
  • The total interest percentage calculation (TIP); and
  • Informational updates to the Loan Estimate.

WHO
This program is designed for mortgage loan department managers, compliance officers, loan officers, auditors and others with responsibilities for preparing, delivering or auditing TRID disclosures

Webinar Reviews: 

Very informative - Bobbie

The program had excellent content - darcie1

very good! - Sandra