- Business Rules
What happens in October when your final forms are new but initials are old?The new forms are driven via an Application date, so if a creditor provides a Good Faith Estimate (application received prior to 10/3/2015) then closing documents would be HUD-1 and Final TIL. If the Application is received 10/3/2015 or after then a Loan Estimate and Closing Disclosure would be provided for most closed-end loans secured by real property.
Citation(s): Commentary ¶1(d)(5)-1
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here