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#2216748 - 06/28/19 08:11 PM TRID Not Disclosed in Three Days
Anonymous
Unregistered

I have some questions for Banks that sell TRID loans into the Secondary Market.

How are you handling TRID loans that were not disclosed within the three business days? Is it still an option to sell the loan to the investor or is the only option to maintain the loan within the portfolio?

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#2216758 - 06/28/19 09:09 PM Re: TRID Not Disclosed in Three Days Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Portfolio. Unless you find a scratch and dent investor.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2243857 - 10/09/20 04:20 PM Re: TRID Not Disclosed in Three Days Anonymous
Ann Offline
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Joined: Jul 2001
Posts: 564
South Carolina
Trying to find some discussion on this type of investor - RESPA Transfer of Servicing regs, etc.? What else to consider?

Thanks!

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#2243858 - 10/09/20 04:23 PM Re: TRID Not Disclosed in Three Days Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
You mean who buys loans with compliance defects? I am not actually aware of any. If they are out there, likely it would be at a huge discount.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2243860 - 10/09/20 04:35 PM Re: TRID Not Disclosed in Three Days Anonymous
Ann Offline
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Joined: Jul 2001
Posts: 564
South Carolina
Apparently they are out there and discount is not too bad, I am told. I have been asked to advise on any regulatory tasks associated with this sale.

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#2243861 - 10/09/20 04:48 PM Re: TRID Not Disclosed in Three Days Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
From a consumer standpoint, no different than any other sale into the secondary market.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2243862 - 10/09/20 04:50 PM Re: TRID Not Disclosed in Three Days Anonymous
Ann Offline
Platinum Poster
Joined: Jul 2001
Posts: 564
South Carolina
Gotcha - thank you!

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