JEANNE REARDON - Attorney at Law
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Why a Home Buyer Needs Title Insurance
Joint Ownership of Real Property in New York
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Real Estate Law Blog

TRID

New TRID Rules

On October 3, 2015, the Consumer Financial Protection Bureau’s (CFPB) new mortgage disclosure law, also known as the TRID went into effect. TRID will help consumers be more informed regarding the closing cost.

Here are11 things you should know about the new law:

1. Initial Good Faith Estimate (GFE) and Truth in Lending disclosure (TIL) are now combined into one new form called the Loan Estimate (LE).

2. Instead of the old forms such as the HUD-1 and Final TIL we now have the Closing Disclosure (CD).