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Reg Z Reviews that Include TRID 2 Amendments

Answered by: 
Randy Carey

Question: 
Since the CFPB's Reg Z Exam Procedures have not been updated (as of 12/11/18) to include the TRID 2 amendments effective 10/1/18, other than going through each section of the regulation, what do you suggest we use (in place of the Exam Procedures) as the 'next best thing' in doing Reg Z reviews that include the TRID 2 amendments?
Answer: 

Without going through the regulatory amendments and updating your audit procedures, I am not sure what you might be looking for? There are no other free short-cuts currently or readily available that incorporate the TRID 2.0 and 3.0 amendments into an audit plan. Each auditor crew is basically left to doing their own work on this or finding a resource/peer or other collaborator that is willing to share.

First published on 01/06/2019

Filed under: 
Lending
Filed under lending as: 
Audit
Reg. Z

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