April 18, 2016
Clients and Friends,
The Consumer Financial Protection Bureau (CFPB) conducted a webinar on April 12, 2016, in which it addressed frequently asked questions about the TILA-RESPA Integrated Disclosure rule (TRID). This was the first webinar since the effective date of TRID in which the CFPB answered general questions about the rule, and for that reason it was an important webinar. The CFPB did conduct a webinar about TRID in March 2016, but that webinar was focused only on construction lending issues.
This webinar provided some useful information, but it did not address all of the issues the industry has raised to the CFPB about the rule, such as the Black Hole, or the known issues with the Calculating Cash to Close table
A link to the archived recording of the webinar is available at: https://www.webcaster4.com/Webcast/Page/577/13784.
In addition, the CFPB posts links to the recordings of its TRID webinars, as well as an “index” of questions and answers from its webinars at this link: http://www.consumerfinance.gov/regulatory-implementation/tila-respa/
I’ve drafted a list of the questions, concise versions of the CFPB’s answers (including quotations as appropriate), and some of my thoughts on several of the CFPB’s answers. Please let me know if you’d like a copy.