ABA Supports Bill to Fix TRID
October 26, 2017
ABA on Tuesday joined several financial and housing trade associations in a letter to House members urging support for the TRID Improvement Act of 2017 (H.R. 3978), a bipartisan bill introduced by Rep. French Hill (R-Ark.) and Rep. Ruben Kihuen (D-Nev.).
The bill would amend the Real Estate Settlement Procedures Act to require the CFPB to allow the accurate disclosure of title insurance premiums and any potential available discounts to homebuyers. The associations noted that the CFPB does not currently permit these disclosures, which creates inconsistencies in mortgage documents and creates confusion for consumers. Read the letter.