Closing Rules Take Effect: Understanding the Changes.
The Consumer Financial Protection Bureau offers an online “Real Estate Professional’s Guide” to help you and your clients understand the new TILA-RESPA Integrated Disclosure rule, or TRID, that took effect Oct. 3. The guide, part of the bureau’s larger ” Know Before You Owe” initiative, include a look at the new mortgage closing forms and a closing fact sheet. Also included on the site are a disclosure timeline and educational videos. The National Association of Realtors has been working with the CFPB to communicate the resources available to REALTORS and to address the impact TRID will have on closings. Access the guide at realtorm.ag/cfpb-realestatepro . For more information and resources on TRID, visit realtor.org/trid