TRID Update: Yet Another Date Change
We have another change to the implementation date of TRID (TILA RESPA Integrated Disclosure). It was announced that the new proposed date of implementation has been postponed to October 3, 2015.
Moving from the October 1, 2015 date will allow lenders to adjust systems and technological platforms over the weekend rather than on a Thursday during business. Public comments on this decision will be received until July 7, 2015 and considered. This latest change comes with CFPB’s issue of the actual proposal to postpone the date of implementation due to errors discovered in the system mere days ago. The change also reflects the original implementation date that was scheduled for August 1, 2015, which was also a Saturday.
Stay tuned for more information.