Guidance and Updates on TRID Implementation
(Applicable to Correspondent Channel)
Dear Licensed Partner,
The TILA-RESPA Integrated Disclosure (TRID) Rule has been effective since October 3, 2015. To help with the transition to the new disclosure forms and better facilitate the processing of your loans, Sun West is offering some helpful tips to ensure that loans originated after October 3, 2015 comply with new TRID guidelines.
As a reminder, Correspondent clients must include both the borrower’s and seller’s Closing Disclosures (CD) as a part of the closing package on purchase-money mortgage transactions that are submitted to Sun West for purchase. Please refer to §1026.25(c)(1)(ii) for CFPB's guidelines regarding the Closing Disclosure in the transfer of mortgage ownership and servicing rights between creditors.
Sun West will continue to provide updates and tips on TRID compliance as these become available. If you have any questions regarding TRID, you may also contact our Management Hotline at (844) DIAL-SWM for immediate assistance.
If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.
|Sun West Mortgage Company, Inc.
18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884
This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.