The CFPB regulations are in place to help inform consumers before taking out a loan and makes it easier to compare loan offerings.
CFPB, through TRID, has created new disclosures and time periods for consumers to review documents prior to closing. One major advantage is that borrowers will receive their closing disclosure a few days before closing for review. Meeting these time periods has changed the way many lenders do business. We at Axis Title are committed to providing costs upfront and backing estimates to avoid any monetary errors. We have pillars in place to assure that we are compliant with all TRID regulations. Our staff is certified to provide education on these industry changes, so contact us today to set up an informative session for your staff. CLE hours may be available.