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RELEASE DATE: JUNE 24, 2024
ANTICIPATED DURATION: 60 MINUTES
TRID stands for TILA-RESPA Integrated Disclosure rule. TRID guidelines are designed to help borrowers understand the terms costs associated with of their loan more clearly before closing.
This course explains the specialized TRID rules related to the terms and costs, along with important timing requirements and other restrictions, for certain consumer-purpose mortgage loans. The course clarifies the types of loans that are covered by TRID, as well as the specific requirements for a TRID loan application, and describes the proper use, delivery to the borrower, and revision of the Loan Estimate and Closing Disclosure. This is an introductory level course.
What You’ll Learn
- Loans covered by the TRID Rule
- Covered Transactions
- What is a “TRID” Loan Application
- The Loan Estimate & Closing Disclosure Concepts
- Changed Circumstances
- Limits on Closing Cost Increases
MEET THE SUBJECT MATTER EXPERT:
Aux is a CUSO (Credit Union Service Organization) located in Lakewood, Colorado, near Denver. Our company has been around since 1992, originally founded to assist credit unions with shared branching and service centers. Although we have evolved over the past two decades into something much more complex and diverse, one thing remains the same: our core reason for existence. We are here to help the people “who help the people,” as the old credit union saying goes – to help credit unions help their members.