Claims of Smooth TRID Implementation? Not So!
Richard Cordray, Director of the CFPB, says that implementation of the new TRID disclosures is going smoothly. Not so, according to a recent report from Moody’s that found over 90% of the mortgage loans reviewed by third parties contained TRID compliance violations. The CFPB declined the request from credit union trade associations that had pushed for a safe harbor from liability period while credit unions and other financial institutions worked through the complex disclosure requirements. [12/14/15]
