What 6 Pieces of Information Make A TRID Loan Application?

by | TRID

Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount sought constitutes a valid loan application under the TRID rule. You may apply and submit these in writing OR in oral form; a...

What Disclosures Are Used For Loans Not Covered By TRID?

by | TRID

Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached dwelling loans and others NOT covered by TRID. Housing assistance loans for low- and moderate-income...

What Kinds Of Loans Do TRID Disclosures Cover?

by | TRID

http://fwd4.wistia.com/medias/qb5tzp3ik6?embedType=iframe&videoFoam=true&videoWidth=640 TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans,...

What Do Lenders Have To Tell You About Your Real Estate Loan?

by | TRID

Federal “disclosure” forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of Oct 1, 2015 lenders must provide TWO New “TRID” disclosure forms. for the most common kinds of real estate loans First, the Loan...