Encompassing five measures and garnering support from the financial services industry, the House passed H.R. 3978, also known as the “TRID Improvement Act,” by a 271-145 margin. The package is named after a free-standing measure to amend the Real Estate Settlement Procedures Act, and includes a provision pertaining to loan officers who relocate or go to work for different types of entities.
Language incorporated from two bills comprising the package drew attention from Mortgage Bankers Association, which previously expressed support for both measures.
Find out more about all of the measures included in the legislative package.