Know Before You Owe: A Work in Progress

The Consumer Financial Protection Bureau’s (CFPB) “Know Before You Owe” harmonization of the Truth in Lending Act and the Real Estate Settlement Procedures Act (TILA-RESPA, or TRID) has been a work in progress for several years, overhauling mortgage disclosure practices to improve clarity with the home-buying process.
With the CFPB’s guidance and willingness to reduce ambiguities, lenders, real estate agents, and settlement providers have finally started adapting to the n