Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

TRID training lacked effectiveness

Notify me of new replies via email
Mortgage Professional America | 08 Jan 2016, 06:30 AM Agree 0
The industry may have trained for it but not all training was equal, according to one association president
  • mlo | | 08 Jan 2016, 01:18 PM Agree 0
    A more correct statement would be that the CFPB failed in making clear the do and don'ts of TRID .. how can you train properly if it is not understood clearly? .. TRID is a totaly waste. It fails in so many areas and is has imposed wasted resources. Get RID of TRID. Also .. if you are going to keep TRID then make it a true level playing field for all in the mortgage lending industry.
  • griff | | 08 Jan 2016, 06:34 PM Agree 0
    Count not agree more with "get rid of TRID". We need common sense and that would take us back to a one page GFE and a two page HUD1. All the fees are there, they are spelled out who is paying for them. I like that as a broker my pay does not show up on the TRID form. I hate that it is so complicated borrowers cannot begin to understand it. Fees that come out as being paid by a lender or a seller get switched up by closing and different fees are paid. Then to top it all off the settlement statement simply convoluted. It looks nothing like a LE or CD that the borrower has seen before. It takes constant vigilance to be sure I'm not screwing myself out of a paycheck because if anything moves from one box to another it may make one box over 10% tolerance even while another is way under. No rationale.
Post a reply