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House Approves Bill for TRID Grace Period.

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House Approves Bill for TRID Grace Period.

The Homebuyers Assistance Act (H.R. 3192) provides the mortgage industry with a grace period through February 1, 2016, by protecting them from enforcement actions if they make a good faith effort to comply with the TRID regulation. This doesn’t mean your transactions will close any sooner or that your lenders can go back to using the old system during grace period.

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Read our earlier post about these changes all brought about by the CFPB (Consumer Finance Protection Bureau).

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