On the Closing Disclosure, do all borrower names need to be listed? We have a loan to a husband and wife as individuals and as trustees of their family trust. Only the husband's name is showing on the CD. The wife's name is on an exhibit and the trust name is not shown at all. We are being told that TRID does not require the name of the trust in this situation to be named at all on the CD. Is that correct??

Told by whom??

Commentary: 1026.38(a)(4) Transaction information.
1. Multiple borrowers and sellers. The name and address of each consumer and seller in the transaction must be provided under the heading “Transaction Information.” If the form does not provide enough space to include the required information for each consumer and seller, an additional page may be used and appended to the end of the form provided that the creditor complies with the requirements of § 1026.38(t)(3). For additional guidance on disclosing multiple borrowers, see comment 37(a)(5)-1.

Yes, I've read that commentary and it is specific to "consumer" (and a trust is not a "consumer"). So, does it mean real people only?? Our mortgage department is saying their software vendor is telling them that they don't need to list the Trust. So, I'm not sure?

Tarhe - I'm not sure of the legal requirements for your location as to if the docs need to be in the trust or individuals names. You may want to look at the official interpretations of 1026.3 though (below is just an excerpt):

10. Trusts. Credit extended for consumer purposes to certain trusts is considered to be credit extended to a natural person rather than credit extended to an organization. Specifically:

i. Trusts for tax or estate planning purposes. In some instances, a creditor may extend credit for consumer purposes to a trust that a consumer has created for tax or estate planning purposes (or both).

Thank you - this is helpful.