Are you ready for October 3rd?
In our continuing efforts to keep you abreast of the latest news on the implementation of the Truth in Lending RESPA Integrated Document (TRID) rule by the Consumer Financial Protection Bureau (CFPB), NAR is pleased to announce new resources to help REALTORS® prepare for the changes. Today, after close collaboration with NAR, the CFPB has launched a new online toolkit for real estate professionals as part of its “Know Before You Owe” campaign. CFPB uses the term “Know Before You Owe” for its consumer facing communications regarding TRID.
REALTOR.org Toolkit on TRID:
Consumer Financial Protection Bureau (CFPB) “Know Before You Owe” website”:
The new website is designed to help real estate professionals understand the changes to the closing process, that will go into effect on October 3, 2015, and how to explain the changes to clients. The site also includes resources that real estate professionals can provide to their clients.