TRID rules are in effect

The new TILA-RESPA Integrated Disclosure (TRID) rules for mortgage closings took effect for new loan applications on Oct. 3. The Director of the Consumer Financial Protection Bureau, on behalf of the six federal financial regulatory agencies, provided written assurances that the early enforcement of the new rules will take into account the good faith efforts of supervised entities. In addition to the Consumer Financial Protection Bureau (CFPB) online toolkit, REALTORS may view an update NAR Senior Counsel Findlay Maxson gave to NYSAR members.