Real Estate Series:
Understanding TRID Tolerance Cures
Wednesday, February 8, 2017
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
The CFPB’s TILA/RESPA Integrated Disclosure (TRID) requirements continue to cause confusion for mortgage lenders. Specifically, many mortgage lenders have lingering questions regarding the TRID tolerance levels and properly conducting the good faith analysis of fees and charges. This webinar will review mortgage lenders’ obligations under the TRID rules to track and monitor tolerance levels. The training will analyze the increased difficulty presented by situations where multiple loan estimates have been issued and a lender needs to determine which fees and charges to use when performing the good faith analysis. Lenders’ options and requirements for providing tolerance cures will also be addressed. Attendees will learn TRID tolerance levels, best practices for tracking fees and charges, and the required procedures for curing tolerances on the closing disclosure.
Continuing Education: Attendance verification for CE credits upon request
- Conducting the good faith analysis for tolerance violations
- Examples of when a revised loan estimate can “reset” tolerance levels
- Best practices for tracking revised disclosures and the appropriate fees for the good faith analysis
- Providing tolerance cures via a lender credit on the closing disclosure
- Post-consummation events triggering a tolerance cure and corrected closing disclosure
- TAKE-AWAY TOOLKIT
- Examples of tolerance violations and cure processes
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
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WHO SHOULD ATTEND?
This informative session is designed for mortgage lenders, compliance staff, and audit teams. Having representatives from each department will ensure everyone is on the same page regarding the TRID tolerance levels and required cures.
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