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CFPB (Consumer Financial Protection Bureau) Takes First Steps Toward Greater Clarity on TRID (TILA-RESPA Integrated Disclosure.) Although the CFPB will not delay implementing the complex TRID requirements that go into effect August 1, but there will be a good faith enforcement grace period that both the mortgage industry and a bipartisan coalition in Congress have asked for.

The Consumer Financial Protection Bureau (CFPB) released a new toolkit that guides consumers through the process of shopping for a mortgage and buying a house. Developed as part of the CFPB's "Know Before You Owe" mortgage initiative, the toolkit will help consumers take full advantage of the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in August.