An Essential Guide to Avoiding TILA-RESPA Integrated Disclosure (TRID) Errors
With the TRID being such a new component of real estate transactions, attorneys must be on their toes in order to avoid errors that delay closings or worse. This essential guide to avoiding TRID mistakes highlights critical pitfalls that have the potential to derail closings. It also provides solutions for getting them back on track when errors arise. Recognize and rectify critical TRID-related mistakes before they delay transactions and increase costs - register today!
- Recognize key purchase contract clauses that conflict with the TRID and have the potential to delay closings.
- Spot TRID loan estimate mistakes and understand when a revised loan estimate is necessary.
- Understand how the TRID affects title examinations, and obtain strategies to speed up the process.
- Locate critical discrepancies between loan estimates and closing disclosures.
- Handle repair issues, APR changes, and other last minute alterations that can significantly delay transactions.
All times are shown in Eastern time
- Ensuring Purchase Contract Provisions and the TRID Align: Avoiding Mistakes That Delay Closings or Worse
11:00 - 12:00, Wade H. Abed II
- Transaction Timing Requirements
- Breach Provisions and Closing Dates
- Financing Contingencies
- Title and Escrow Company Selection Provisions
- Essential TRID-Specific Provisions to Include - With Examples
- Fixing TRID Loan Estimate Mistakes Before They Derail Transactions
12:15 - 1:15, Wade H. Abed II
- Loan Estimate Timing Essentials
- Cash to Close
- Closing Costs
- Loan Costs
- Taxes and Other Costs
- Ensuring the Estimate was Made in Good Faith
- When is a Revised Loan Estimate Necessary?
- Intent to Proceed: Was it Properly Documented?
- Spotting Loan Estimate Mistakes - With Examples
- Quickly Resolving Title Issues to Avoid Closing Delays
1:45 - 2:45, Rebecca A. Bowman
- How the TRID Affects the Title Process
- Speeding Up Title Searches
- Knowing When to Order a Survey - and When it Causes Delays
- Curing Title Defects Quickly and Accurately
- Title Insurance Endorsements: Picking the Best Ones to Quickly Fix Problems
- Working With Title Insurers to Speed up the Process: Best Practices
- Avoiding TRID Closing Disclosure Errors That Cost Both Money and Time
2:45 - 3:45, Daniel R. Tyson
- Critical Closing Disclosure Timelines to Understand
- Recognizing Common Closing Disclosure Errors
- Discrepancies With Loan Estimates
- Errors in Closing Disclosure Items Not Found in Loan Estimates
- Settlement Statements: Can They Amend the Closing Disclosure?
- Spotting Critical Errors in Sample Forms
- Handling Last-Minute Changes: Best Practices for Minimizing Delays
4:00 - 5:00, Daniel R. Tyson
- Last-Minute Repair Issues
- APR Changes
- Loan Product Changes
- Changes in Closing and Other Costs
- Back-to-Back Closings
- Best Practices for Last-Minute Changes at the Closing Table
- Ethical Considerations
5:00 - 6:00, Rebecca A. Bowman
- Rules of Professional Conduct
- Good Faith Required in Real Estate Transactions
- Conflicts of Interest
- Disclosure of Defects in Property
This guide to avoiding TRID mistakes is for attorneys. Mortgage lenders, title agents, real estate professionals and paralegals may also benefit.