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The TILA/RESPA Integrated Disclosure (TRID) requirements continue to cause confusion for mortgage lenders. Specifically, the TRID tolerance levels and properly conducting the good-faith analysis of fees and charges are key concerns during TRID examinations and audits. This webinar on Tuesday, May 8, from 3:00 p.m. to 4:30 p.m., will review mortgage lenders’ obligations to track, monitor, and comply with the various TRID tolerance levels. Examples will be used to demonstrate proper calculation of the 10% cumulative tolerance category and the associated good-faith analysis.
The training will analyze the increased difficulty presented by situations where multiple loan estimates have been issued and the need to determine which fees and charges to use for the good-faith analysis. Lenders’ options and requirements for providing tolerance cures will also be addressed. Attendees will learn TRID tolerance levels, best practices for tracking fees and charges, and the requirements for curing tolerances on the closing disclosure.
For those participating in this webinar, you can expect to learn about:
- Conducting the good-faith analysis for tolerance violations
- Examples of when a revised loan estimate can “reset” tolerance levels
- Best practices for tracking revised disclosures and the appropriate fees for the good-faith analysis
- Options for providing tolerance cures on the closing disclosure
- Post-consummation events triggering a tolerance cure and corrected closing disclosure
After participating in this webinar, attendees will receive: examples of tolerance violations and cure processes; an employee training log; and a quiz you can administer to measure staff learning and a separate answer key.
This webinar is offered through the League’s partnership with the CU Webinar Network. For more information or to register, please click here.