CFPB updates TRID FAQs, including impact of BUILD Act

Frequently asked questions (FAQs) about the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures (TRID) rule were updated recently to address housing assistance loans, including how the BUILD Act affects requirements for certain such loans.

The updates, circulated Friday by the Consumer Financial Protection Bureau (CFPB), address the following topics:

  • Corrected closing disclosures and the three business-day waiting period before consummation
  • Model forms
  • Construction loans
  • Providing Loan Estimates to Consumers
  • Providing Closing Disclosures to Consumers
  • Lender credits
  • Total of Payments
  • Optional Signature Line
  • Housing Assistance Loans