Leticia Ramos

NMLS# 218180

Loan Officer

TILA
RESPA
INTEGRATED
DISCLOSURES

TRID

Learn more about TRID and how these changes affect borrowers, lenders, and real estate professionals. See videos below.

Mortgage Lending Is Changing

The Consumer Financial Protection Bureau published revisions to the TILA and RESPA mortgage regulations that went into effect in October 2015. These changes have made it easier for borrowers to read and understand the cost of getting a mortgage loan.

The revisions are known as the TILA/RESPA Integrated Disclosures (TRID) or "Know Before You Owe". The revision includes two new disclosure forms - the Loan Estimate and the Closing Disclosure. Surveys by ALTA (the American Land Title Association) show that 18% more homebuyers are reviewing their mortgage documents now than before the new regulations went into effect.

Learn more about these forms and other important impacts on mortgage lending in the following videos.

More Videos

  • The New Loan Estimate
    The new Loan Estimate is an entirely new disclosure form that combines the Good Faith Estimate and the initial Truth-In-Lending forms.
  • The New Closing Disclosure
    Get to know the new 5-page Closing Disclosure that replaces the final TIL and HUD-1 settlement statement.
  • New TRID Waiting Periods
    Understand the waiting period requirements imposed by the new Closing Disclosure to minimize surprises or delays.
  • TRID and New Home Construction
    The unique challenges TRID presents with new home construction and how planning and communication will reduce the impact.

The New Loan Estimate

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The New Closing Disclosure

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New TRID Waiting Periods

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TRID and New Home Constructions

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NMLS# 218180

State Lic: TX: 218180;

Corp Lic: TX: 3113;

Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.;