Freedom – Compliance Announcement
Get ready for the new mortgage rules
A guide to the new TILA/RESPA Integrated Disclosure regulation (TRID)
The new disclosure form and timeline rules will take aeffect for application taken on or after October 3 , 2015
What is TRID?
Freedom Mortgage Corporation Compliance Announcement – The Consumer Financial Protection Bureau (the "CFPB") issued a final rule that revises the loan disclosures we provide to consumers at the time of loan application and closing. The Rule also establishes new timing requirements for the disclosures, new pre-disclosure requirements and new tolerance levels for disclosed estimates. The Rule is effective on October 3 , 2015.
Freedom Mortgage Corporation will comply in all respects with the CFPB's Rule on TILA-RESPA Integrated Disclosures. We will roll out the changes to our policies and procedures that we will implement to ensure Freedom's compliance with the CFPB's TILA-RESPA Rule. Our IT, Business Solutions, Regulatory Compliance and Training Departments are working diligently to facilitate our smooth transition to the Rule's new disclosure forms and other requirements on October 3 , 2015.