On October 18, 2016, NAR sent a letter to the Consumer Financial Protection Bureau (CFPB) commenting on its recent proposed rule amending the Know Before You Owe (KBYO) regulation, or “TRID.”
While KBYO has resulted in more transparency for consumers and better accountability of financial institutions, ongoing compliance issues remain, costing time and money for consumers and the industry. As a result of these concerns, NAR urged the CFPB to:
- emphasize that lenders and title agents should share the CD with real estate agents, in accordance with… Read More
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