Massive Increases In Mortgage Defects Under TRID

Increased Mortgage Defects Under TRID

Since the implementation of the TILA-RESPA Integrated Disclosure Rule (TRID, a.k.a. the Know Before You Owe mortgage rule), both Fannie Mae and the Federal Housing Authority (FHA) have developed their own taxonomies for mortgage defects, and severity scales. Fannie Mae’s system includes 12 categories, and a more simplified severity scale.…

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