A comprehensive guide to understanding the Loan Estimate (LE) document, its components, importance, and the TRID rule that replaced the Good Faith Estimate (GFE) with the LE for better transparency.
The TILA-RESPA Integrated Disclosure (TRID) rule, implemented in 2015, simplifies and consolidates previous disclosures required under the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) into two forms: the Loan Estimate and the Closing Disclosure.
An in-depth look at the TILA-RESPA Integrated Disclosures (TRID) rule, effective from October 2015, which combines the previous GFE, HUD-1, and TILA disclosures into two new forms: the Loan Estimate and the Closing Disclosure.
