TILA-RESPA Integrated Disclosure (TRID)

The TILA-RESPA Integrated Disclosure (TRID) is a regulation that combines two key mortgage disclosures: the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). Implemented in 2015, TRID aims to simplify the home buying process by providing borrowers with clear and consistent information about loan terms and closing costs. The rule requires lenders to present information on a Loan Estimate form within three business days of a mortgage application and a Closing Disclosure at least three days before closing, helping consumers make informed decisions and avoid surprises at the closing table.