TRID

TRID, or the TILA-RESPA Integrated Disclosure, is a federal regulation that combines the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) disclosures into a streamlined process for mortgage borrowers. It requires lenders to provide clear, standardized documents—Loan Estimate and Closing Disclosure—within specific timeframes. This helps consumers better understand the costs, terms, and settlement process of their mortgage, enabling informed decision-making and promoting transparency. TRID's goal is to simplify mortgage disclosures, reduce surprises at closing, and increase consumer confidence in home financing.