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CFPB Issues Proposed Rule Regarding Revisions to TRID Final Rule and MLO Disclosure Requirements of NMLS ID

The Bureau is proposing two amendments to the TILA-RESPA Disclosure Integration Final Rule (TRID): (1) an adjustment to the timing requirement for revised disclosures when the consumer locks a rate or extends a rate lock after the initial disclosures are provided; and (2) an amendment to permit language related to new construction loans to be included on the Loan Estimate form. The Bureau also is proposing to amend the 2013 Loan Originator Final Rule to provide for placement of the NMLSR ID on the integrated disclosures. Comments must be received on or before November 10, 2014.  Comments must be received on before November 10, 2014.  To view the proposed amendments, click here.

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