On October 10, WBA submitted comments in support of CFPB’s proposed rule meant to solve the “black hole” issue caused by the current TRID rule. The proposal would permit creditors to reset tolerances using a revised Closing Disclosure without regard to the current four business day limit. WBA noted the four business day limit often results in additional fees that creditors are forced to absorb through no fault of their own and unnecessary delays to the borrower. The proposed rule would alleviate this burden and keep the cost of credit from increasing. Click here to read WBA’s letter.