The Consumer Financial Protection Bureau (CFPB) recently published two guides intended to clarify disclosure requirements for construction and construction-permanent loans under the TILA-RESPA Integrated Disclosure (TRID) rule.
The separate guidance materials provide details specific to how TRID applies to each loan type. One guide details regulations regarding separate construction and permanent phase disclosures. The other guide pertains to combined, one-transaction disclosures.
Read on for more details about the guides.