A new webinar from CUNA will show participants how to perform a comprehensive compliance audit of the Consumer Financial Protection Bureau's (CFPB) Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures (TRID) rule.
Kristen Tatlock, vice president of the compliance consulting and training firm Compass 4 CUs LLC, will host Auditing for TRID Compliance on July 19.
“It is extremely important for credit unions to ensure that compliance efforts with respect to the CFPB’s TRID rule are at their highest levels before the CFPB’s ‘regulatory restraint’ and ‘good faith efforts’ period comes to an end,” said CUNA Chief Compliance Officer Jared Ihrig. “This webinar emphasizes for credit union professionals how to properly inspect their disclosures and to make sure that they meet current regulatory requirements.”
Taking effect on Oct. 3, 2015, TRID requires that lenders provide mortgage customers with two disclosure forms, the Loan Estimate and the Closing Disclosure. The forms condense important information, including costs, fees, risks and loan terms, into easy-to-read documents. Additionally, the rule establishes a disclosure time table for the application and closing process.
A recorded version of the webinar will be made available for one year after the live broadcast.
For more information and registration, visit cuna.org/tridwebinar.