TRID
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | TILA-RESPA Integrated Disclosure rule |
|---|---|
| Categories | Business & Finance |
TRID stands for TILA-RESPA Integrated Disclosure rule, a real estate & mortgage abbreviation.
Consumer Financial Protection Bureau rule that merged the mortgage disclosures required by the Truth in Lending Act and the Real Estate Settlement Procedures Act into two forms: the Loan Estimate and the Closing Disclosure.
Example: Under TRID, the lender must deliver the CD three business days before closing.
Usage notes
Effective October 3, 2015, and marketed as "Know Before You Owe." It applies to most closed-end consumer mortgages but not to reverse mortgages, HELOCs or mobile home loans not secured by land. Pronounced "tee-rid."
Related abbreviations
More real estate & mortgage abbreviations
- ABR – Accredited Buyer's Representative
- ADU – Accessory dwelling unit
- ALTA – American Land Title Association
- ARM – Adjustable-rate mortgage
- ARV – After-repair value
- AVM – Automated valuation model
- BA – Bathroom
- BPO – Broker price opinion
- BR – Bedroom
- BRRRR – Buy, rehab, rent, refinance, repeat
- bsmt – Basement
- CAC – Central air conditioning