TILA-RESPA Integrated Disclosure Rule

The new TILA-RESPA Integrated Disclosures (TRID) changes implemented by the Consumer Financial Protection Bureau (CFPB) took effect on October 3, 2015.

3 Day Closing

Disclosure Rule

The new TRID rules require that the Closing Disclosure MUST be provided to the consumer 3 business days prior to closing

“Business Days” are defined as all calendar days except Sundays and legal public holidays.

  • 3 Day period is measured by days, NOT hours

    • Disclosures must be delivered three days before closing, not 72-hours prior to closing

  • If a federal holiday falls in the 3 days period, add a day for delivery

  • Public holidays include:

    • New Year’s Day (First of January)

    • Martin Luther King, JR. Day (Third Monday of January)

    • George Washington’s Birthday (Third Monday of February)

    • Memorial Day (Last Monday in May)

    • Independence Day (Fourth of July)

    • Labor Day (First Monday in September)

    • Columbus Day (Second Monday in October)

    • Veterans Day (Eleventh of November)

    • Thanksgiving Day (Fourth Thursday in November)

    • Christmas Day (Twenty-Fifth of December)

    • “Business Days” are defined as all calendar days except Sundays and legal public holidays.

    • 3 Day period is measured by days, NOT hours

    • Disclosures must be delivered three days before closing, not 72-hours prior to closing

    • If a federal holiday falls in the 3 days period, add a day for delivery

What is TRID?

Below is a short video explaining how these changes and how they impacting your purchase.