The better question is, do you know what it means???
....if not, you need to attend the Mortgage Bankers Association of the Carolinas, and the Charlotte Regional Mortgage Lenders TRID Work Shop on May 21, 2015 at the Myers Park Country Club in Charlotte, North Carolina.
TRID means: TILA RESPA INTEGRATED DISCLOSURE.
This is the document which will replace the HUD-1 on august 1, 2015. In addition to replacing the documentation, the TILA RESPA Reforms will usher in a new closing paradigm, absolute liabities for Creditors, Mortgage Brokers and any other entity loaning money to creditors.
At the workshop we will cover:
1. What the new mortgage industry will look like
2. What liabilities you may have both as a business and individually
3. What will the closing process look like
4. What are your new responsibilities regarding the use of third party settlement providers (Attorneys, title companies, and appraisers)
5. How will Gramm Leach Bliley affect this
6. What to expect at the closing table...You will be surprised.