TRID: TILA-RESPA Integrated Disclosures

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requires the Consumer Financial Protection Bureau (CFPB) to issue rules and forms that combine certain disclosures provided to consumers in connection with applying for and closing a mortgage loan under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). Accordingly, the CFPB has amended Regulation X (the implementing regulation of RESPA) and Regulation Z (the implementing regulation of TILA) to establish new disclosure requirements and forms in Regulation Z for most closed-end consumer credit transactions secured by real property. These amendments, collectively referred to as the TILA-RESPA Integrated Disclosure Rule (TRID), include new, revised forms that would replace the Truth In Lending Disclosure Statement, Good Faith Estimate and HUD-1 Settlement Statement with a Loan Estimate (to be provided within three days of application) and a Closing Disclosure (to be provided three business days prior to consummation.) The TRID also incorporates a number of other disclosure requirements, imposes further limitations on increases to closing costs, and changes the definition of “finance charge”, among many other changes. This page is devoted to "all things TRID" to assist you with your implementation efforts in the months leading up to TRID's deadline.