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The Answers to all Your Burning TRID Questions



By Ruth Dillingham and Leslie Wyatt

It’s been one year since the CFPB’s Know Before You Owe mortgage initiative was implemented … are you a TRID expert yet?  In case you are wondering, TRID stands for TILA RESPA Integrated Disclosure rule. Overall the title industry has managed to adapt and comply with the new rules and regulations quite smoothly. A lot of good things have come out of TRID. Communication between lenders and settlement agents has greatly increased. The relationship between the settlement agent and realtor is more cohesive. The closing disclosure form provides greater transparency to the consumer. While things have gone smoother than most in our industry had anticipated there are still a lot of unknowns out there:

  • Who should get the Closing Disclosure Form vs a Settlement Statement?
  • Do the recently proposed amendments to TRID from the CFPB affect you and your organization?
  • Have you worked through any technical issues you might have had?
  • With so many portals out there are you using the right one?
  • How did the implementation of TRID affect the secondary market?

Question, questions, questions! This session will help you learn what lingering TRID questions are still out there and highlight what the biggest industry issues are to date.  We will focus on what we can expect from the CFPB moving forward, from enforcement actions to possible additional TRID amendments. Gain the tools you’ll need to navigate through this new era of closings.

Ruth Dillingham is special counsel for First American Title Insurance Company in the New England region. She can be reached at [email protected]. Leslie Wyatt is director of Industry Relations at SoftPro Corporation. She can be reached at [email protected]. Dillingham and Wyatt will speak more in depth about this topic during a session titled "The Answers to All Your Burning TRID Questions" during ALTA's Annual Convention. Click here to register.


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Does TRID apply to a lot loan that will not have any real estate constructed on it?

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