The first thing to wrap our heads around is, each section on page 2 of the CD in ProForm Classic 15 and 20 all come from one screen. On a purchase, there are 10 text positions to store lookup tables for pretty much the entire CD. Lookups for Surveyor, Pest Inspector, Tax Fees, HOA, Home Inspectors, and more all need to fit. That is going to require some thought as to how to lay out the data so that it's easiest to use.
The original TRID go live date is upon us, part of me is sad it didn’t go, August 1st is my Dad’s birthday. October 3rd is the first Saturday in October, not far off. Were you ready on August 1st?
Over the next 2 months look at every document, every report for anything that is based on a HUD line. It will need updated.
It started in late March, today the brakes are applied, we are now in a delay. The August 1st deadline for the TRID regulations has been delayed until October 1st. The party line is there was an administrative mistake that was just discovered, in the nick of time. I’m glad that thing showed up. That provides a little relief, not much, sometimes.2 months is a day in development. Here’s what they said,
The CFPB wants to learn about the electronic closing business and is looking for agents who currently have some electronic closing system in place. They are the government and they are here to help the consumer. The CFPB's vision is for a "knowledgeable, empowered homebuyer experiencing a more efficient, consumer-friendly process." If you do eClosings, Read on….
The Consumer Financial Protection Bureau (CFPB) has released a new guide to for the new forms. This one weighs in at a scant 96 pages. It covers the Loan Estimate and Closing Disclosure forms very well. Download a PDF of the TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure forms Phew that is a mouthful.