Understanding TRID - The TILA-RESPA Integrated Disclosure
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This course will instruct real estate agents on the new finance transaction disclosures, the Loan Estimate and the Closing Disclosure, that will be used in the mortgage industry starting in August 2015.
|Category:||Real Estate > Continuing Education > Oregon > Real Estate Finance|
|Features:||printable certificate, PDF eBook|
Course ID: 1038-1074
Credit Hours Provided: 3
Category: Real Estate Finance
This course will go over each section of the new loan disclosures that will be implemented in October 2015: the Loan Estimate and the Closing Disclosure. These two forms will replace the Good Faith Estimate (GFE) and the HUD-1 Settlement Statement. It is anticipated that these two new forms of loan disclosures will make it easier for consumers to understand the terms of their loan as well as allow them to easily shop for other lenders.
Real estate agents may also want to become familiar with these forms, as they will be used as part of every real estate transaction as of October 3, 2015. While an agent will not be completing these forms, it is a good idea to be aware of the layout of the form, the different sections of the form, and how those in the financial profession will complete the form for the agent's property buyer.
The first part of this course will review the 3-page Loan Estimate, and the second part of the course will cover the 5-page Closing Disclosure. This course will take approximately 3 hours to complete.
At the end of the course is an optional 15-question final exam that students can use to check their understanding of the two new disclosure documents. After completing the Oregon Real Estate Agency mandated seat time, an Oregon real estate continuing education certificate will be available for printing.
This course will remain available to students for 730 days after enrollment.
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