Most major quality control issues in 2016 were TRID-related

Mortgage

Most lenders’ quality control headaches were triggered by the Consumer Financial Protection Bureau’s Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosure rule.

Twelve of the top 15 quality control issues in 2016, as identified by third-party mortgage compliance service provider MetaSource, were TRID-related. The findings were based on a review of thousands of post-close QC audits performed by the Utah-based company.

Leave a Reply