TRID Liability, Cures, and Common Mistakes
Recorded: May 26, 2016
CE Credits : Earn 2 CRCM Credits*
The Consumer Financial Protection Bureau (CFPB) issued the TILA-RESPA integrated disclosure rule (TRID) has been effective since October 2015. But it is still causing headaches for the industry this year. Lenders are grappling with loans being rejected by investors for minor mistakes. Investors are dealing with uncertain liability under TRID. Settlement agents are dealing with indemnification demands from lenders. And while this is going on, the industry as a whole has been dealing with uncertainties under the rule and clamoring for CFPB to provide formal guidance and clarifications. Also, lenders and settlement agents are dealing with new software systems and workflows. And the CFPB recently announced this it is going to issue a proposal to amend TRID to provide clarifications to the industry.
This complimentary BAI webinar conducted by Richard Horn will help financial institutions understand their liability under TRID, how to avoid common mistakes, and the areas of the rule that are still causing trouble for the industry. Richard Horn, of Richard Horn Legal PLLC, is the former CFPB Senior Counsel and Special Advisor who led the TRID rule and the design of the TRID disclosures. He is one of the foremost experts on TRID, making this a webinar that shouldn’t be missed.
Key Takeaways: What You Need to Know
Liability under TRID
How to cure violations of TRID to ensure a loan can be sold
Known issues in the TRID rule
Common mistakes and how to avoid them.
Richard Horn led the final TRID rule (the TILA-RESPA integrated disclosures) while a Senior Counsel & Special Advisor in the Consumer Financial Protection Bureau’s Office of Regulations. He also led the CFPB’s design and consumer testing of the integrated disclosures. Richard is one of the foremost experts on the rule. He is currently in private practice at Richard Horn Legal, PLLC.
Prior to joining the CFPB, Richard was a senior attorney at the Federal Deposit Insurance Corporation (FDIC) in the New York Regional Office. At the FDIC, Richard worked on consumer compliance and risk management supervisory matters and enforcement actions, including TILA disclosure and advertising requirements; UDAP; RESPA section 8; FCRA; bank merger act applications; real estate activities; capital requirements and prompt corrective action; Community Reinvestment Act; and fair lending.
*TRID Liability, Cures, and Common Mistakes has been approved for 2 CRCM. This statement should not be viewed as an endorsement of this program or its sponsor. ICB Members must report these credits at www.icbmembers.org.