Know Before You Owe – Tips For a Smooth Mortgage Process
Beginning on October 3, the CFPB’s new “Know Before You Owe” rule, also known as TRID, went into effect. The new regulations will result in some changes to the way real estate transactions are processed. The updates include new forms and timelines that are intended to make the process more transparent and easier to understand. Recently, the Mortgage Bankers Association released a set of guidelines to help educate everyone involved.