CFPB Releases Resources on TRID for Construction Loans

The Consumer Financial Protection Bureau today released a fact sheet that covers the basics of using the TILA-RESPA integrated disclosures for construction loans. The fact sheet includes information on which construction loans are covered by TRID (open-end transactions or loans for a commercial purpose are not covered), as well as existing provisions for construction loan disclosures and guidance on disclosures for a loan with permanent financing as either one or two loans.

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Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.