Bank of America Addresses CFPB's TILA-RESPA Integrated Mortgage Disclosures (TRID) Rule

Please read Bank of America's June 9 notice to settlement agents regarding the effects of the Consumer Financial Protection Bureau's (CFPB) new TILA-RESPA Integrated Mortgage Disclosures (TRID) Rule. The notice addresses the following items:

• Use of settlement statements;
• Differences between buyer/borrower and seller documents; and
• Answers to other frequently asked questions.

There is also a recap of key details from Bank of America's prior announcements regarding Closing Disclosure specifics, using Closing Insight™, and Bank of America's requirements for the closing collaboration process.

For more information for ATG agents, review the following:

• New CFPB Integrated Disclosures: ATG Will Help You Prepare for August Implementation
• ATG Provides Agent Training on Integrating TILA-RESPA Disclosures

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