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Trade Groups Join ALTA Urging Support for TRID Improvement Bill. | CIMA Abstract Company
ALTA and nearly two dozen industry trade groups sent a letter urging members of the U.S. House of Representatives to support legislation that would correct the inaccurate disclosure of title insurance premiums on the TILA-RESPA Integrated Disclosures (TRID). The TRID Improvement Act of 2017 (H.R. 3978) amends current legislation to allow accurate disclosure of title insurance premiums and discounts to homebuyers. Under the current regulation, the CFPB does not allow title insurance companies to disclose discounts for lenders title insurance on the government mandated disclosures. Read full article.