TRID is complicated, detail-intensive, and sometimes challenging. This webinar will cut through the confusion and provide clarification on the CFPB’s requirements and interpretations to ensure you understand the TRID tolerance standards and limit tolerance cure scenarios.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand the TRID tolerance levels and options for providing tolerance cures
- Conduct the good faith analysis for tolerance violations
- Explain when a revised Loan Estimate or a Closing Disclosure can “reset” tolerances
- Implement best practices for tracking disclosures and fees for the good faith analysis
- Explain the requirements for providing a compliant written list of service providers
The TILA/RESPA Integrated Disclosure (TRID) requirements are detailed and complex – which is quite clear from the various tolerance rules, restrictions, and calculations. Mortgage lenders are faced with a complicated analysis of tolerance levels, written lists of service providers, changed circumstances, revised Loan Estimates, Closing Disclosures, tolerance resets, and tolerance cures.
This training will review mortgage lenders’ obligation to comply with the various TRID tolerance levels. Examples will be used to demonstrate the proper calculation of the 10% cumulative tolerance category and the associated good faith analysis. It will also analyze the increased difficulty presented by situations where multiple Loan Estimates have been issued or where a Closing Disclosure or corrected Closing Disclosure has been used to reset tolerance levels.
WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, compliance staff, and audit teams.
- Examples of tolerance violations and cure approaches
- Summary of the June 1, 2018, TRID amendment impacting tolerance levels
- Employee training log
- Interactive quiz
SPEAKER: Steven Van Beek, Esq., Howard & Howard Attorneys PLLC
Steve Van Beek is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations. He assists financial institutions throughout the country with managing and reducing compliance, legal, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.