TRID Resource Materials are Available from MBA

The Mortgage BankersrnAssociation has rolled out a series of flyers and a PowerPoint presentation asrnresources ahead of the impending implementation of the new Know Before You Owe TILArnRESPA Integrated Disclosure rules. (TRID). rnThe materials, downloadable and set up for insertion of lender brandingrninformation, are designed to enable lenders to educate themselves, consumers, andrnreal estate professionals about the new rules and their attendant disclosurernforms.  </p

MBA said the newrnregulations will change the way that real estate transactions are processed andrnclosed. It is the intent of the new resource materials, which MBA said itrnworked closely with the Consumer Financial Protection Bureau (CFPB) to produce,rnto educate consumers, industry partners and service providers, and to speed thernprocess of these transactions.  The newrnregulations go into effect on October 3.</p

MBA President and CEO DavidrnStevens said MBA designed the materials so that both consumers and the realrnestate community can comply with the new procedures in an efficient and smoothrnprocess. “Our industry has been preparing for these changes over the lastrnseveral months and we are confident that everyone involved in the closingrnprocess will benefit as a result of these new rules,” he said.</p

The materials include:</p<ul class="unIndentedList"<liForrnconsumers: a one-page flyer that coversrnthe changes brought by TRID in plain, easy to understand language and lays outrnways to keep the process running smoothly.</li<liForrnreal estate agents and brokers: arnone-page flyer that covers the changes and ways in which real estaternprofessionals can assist in keeping the process on track.</li<liForrnlenders: A PowerPoint Slide Deck which theyrncan use as the basis for a presentation on TRID to real estate agents andrnbrokers. The deck contains sample formsrnfor reference.</li</ul

Lenders can download the materialsrnwithout charge here.  The PDF files contain an editable field atrnthe bottom left corner of the page for personalization by the lender.  The cover page of the PowerPoint deck is alsorncustomizable.

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