CFPB Requests Information on the TILA-RESPA Integrated Disclosures Rule Assessment

The CFPB recently announced that it is conducting its Dodd-Frank Act-required five-year assessment of the TRID Rule.  Comments must be received on or before January 21, 2020.  

Among other items, the CFPB invites comments on the following:

• The feasibility and effectiveness of the assessment plan, the objectives of the TRID Rule that the CFPB intends to use in the assessment, and the outcomes and methods for assessing the effectiveness of the TRID Rule;
• Data and other factual information that the CFPB may find useful in executing its assessment plan and answering related research questions, in particular research questions that may be difficult to address with currently-available data;
• Data and other factual information about the costs and benefits of the TRID Rule for consumers, creditors, or other stakeholders;
• Data and other factual information about the effects of the TRID Rule, including on transparency, efficiency, access, and innovation in the mortgage market;  
• Any aspects of the TRID Rule that were or still are confusing, including whether more guidance was or is needed on such aspects and whether any such provided guidance has resolved the issue; and
• Recommendations for modifying, expanding, or eliminating the TRID Rule.