- Business Rules
For the contact information table, if there's no mortgage broker, may that column and header be omitted?If there is no mortgage broker involved in the transaction, the column for the Mortgage Broker is left blank; but the column remains on the Closing Disclosure Contact Information table. In the event there is more than one of each person required for a column (e.g., two sellers' real estate brokers splitting a commission), then the space in the contact information table may be altered to accommodate the information for such persons. If the space does not accommodate the addition of such information, an additional table may be provided on a separate page, with an appropriate reference to the additional table. However, before an additional table on an additional page is created, the system may omit a column on the table that is inapplicable or, if necessary, replace an inapplicable column with the contact information for the additional person.
Citation(s): §1026.37(o)(1); §1026.37(o)(2); §1026.37(o)(3); and Commentary ¶37(o)
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here