TILA-RESPA Integrated Disclosures (TRID) Policy and Procedures

Description

The TILA-RESPA Integrated Disclosures (TRID) Policy and Procedures outlines the requirements for a mortgage company to adhere to remain compliant. The Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) were combined under the TILA-RESPA Integrated Disclosures (TRID) rule, which requires a mortgage company to provide borrowers with clear and timely information about the terms and costs of their proposed mortgage loan.

Additionally, the policy explains the tolerance thresholds between the Loan Estimate (LE) and Closing Disclosure (CD) and provides guidance on what constitutes a valid changed circumstance that may allow for fee revisions.