TRID: Auditing the LE & CD for Compliance
This detailed session will dive into what auditors must know for TRID compliance. Many tools will be provided to aid in completing a TRID audit, including tips on calculating TRID-sensitive dates, examples to ensure proper selection of the loan’s purpose, formulas to verify calculations, and a list of common costs and their appropriate placement within the Loan Costs table. Join us to learn more about this challenging topic.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Audit for timing requirements
- Determine if disclosures were issued in good faith
- Identify if a valid changed circumstance occurred
- Verify critical numbers using the FFIEC tool
- Review completed TRID documents for accuracy
WEBINAR DETAILS
TRID continues to be a challenging regulation, and it is critical that your institution has implemented tools to regularly audit the Loan Estimate (LE) and Closing Disclosure (CD) for accuracy. Join us as we review critical TRID components, including document delivery timing requirements, determining if the good faith standard was achieved, and identifying if a valid changed circumstance was encountered and supported by file documentation. This program will include an explanation of how to utilize the FFIEC’s disclosure computational tool to test the accuracy of the annual percentage rate and finance charges. In addition, it will provide guides to assist auditors with LE and CD regulatory citations.
WHO SHOULD ATTEND?
This informative session is designed for those responsible for TRID compliance, including mortgage lenders, real estate lenders, loan closers, loan processors, compliance staff, risk professionals, and audit personnel.
