TILA-RESPA Integrated Disclosure (TRID)
TRID: consolidated mortgage disclosures (effective 10/3/2015). Two forms: Loan Estimate (LE: within 3 business days of application; estimates terms and costs) and Closing Disclosure (CD: at least 3 business days before closing; final terms). Replaces: GFE, TIL, HUD-1. Tolerance: origination = 0%, recording/transfer = 10%, prepaids = no limit. FL impact: 3-day rule delays, CD accuracy, and coordination required. Remedies: rescission and damages.
Two Forms
- Loan Estimate: 3 days after application
- Closing Disclosure: 3 days before closing
- Replaces GFE, TIL, HUD-1
Tolerance
- Origination: 0% increase
- Recording/transfer: 10%
- Prepaids: no limit
FL Impact
- 3-day rule: timing constraints
- CD accuracy critical
- Remedies: rescission, damages
Related Terms
- Closing — Transaction completion
Barnes Walker Real Estate
Barnes Walker’s attorneys ensure TRID compliance in Florida. Request a legal inquiry for assistance.
Florida Law Reference
12 U.S.C. § 2601 et seq. (RESPA); Fla. Stat. § 627.7711
Real estate closings in Florida are governed by federal RESPA requirements and state title insurance regulations. Florida is a "title state" where closings are typically handled by title companies or attorneys.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC