CFPB Delaying Enforcement TRID


I am here in Denver and had the opportunity this morning to hear MBA President Dave Stevens, under the direction of CFPB Director Richard Cordray, announce an update to the TRID changes.

Specifically, there will be no delay in the implementation of TRID – staying with the August 1 deadline. There will be, however, a specific delay in enforcement in response to direction from the industry, and Congress, for those companies moving toward implementing the measures. It doesn’t, of course, stop lawsuits filed by various parties, but it is a great development.

Of course everyone involved is very concerned about disruptions to the settlement process, and apparently the CFPB is aware of this.

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