Realtors® Applaud CFPB Extension of TRID Implementation

News provided by

National Association of Realtors

Jun 17, 2015, 05:50 ET

WASHINGTON, June 17, 2015 /PRNewswire/ -- National Association of Realtors® President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., released the following statement in response to the Consumer Financial Protection Bureau's announcement of a two-month delay for the implementation of  the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, regulation.

Continue Reading
Chris Polychron, a Realtor(r) from Hot Springs, Ark., is the 2015 President of the National Association of Realtors(r). NAR, The Voice for Real Estate(r), is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries. A Realtor(r) for 27 years, Chris is an executive broker with 1st Choice Realty in Hot Springs, specializing in residential and commercial brokerage. (PRNewsFoto/National Association of Realtors)
Chris Polychron, a Realtor(r) from Hot Springs, Ark., is the 2015 President of the National Association of Realtors(r). NAR, The Voice for Real Estate(r), is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries. A Realtor(r) for 27 years, Chris is an executive broker with 1st Choice Realty in Hot Springs, specializing in residential and commercial brokerage. (PRNewsFoto/National Association of Realtors)

"The action announced today by the CFPB is a welcome step. NAR has long advocated the need to avoid implementing the new regulation during the peak summer selling season.

"NAR appreciates the CFPB's extension to October 1, 2015 as well as the earlier 'sensitivity' they offered to companies making a good-faith effort to comply with the new TRID regulation. 

"NAR will continue to work with CFPB to minimize any possible market disruptions or uncertainty that could develop following the implementation.  

"The CFPB has demonstrated an understanding of the need for additional time to accommodate the interests of the many consumers and providers."

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the "News, Blogs and Videos" tab on the website. 

Photo - http://photos.prnewswire.com/prnh/20150210/174671
Logo - http://photos.prnewswire.com/prnh/20150210/174673LOGO

SOURCE National Association of Realtors

Related Links

http://www.realtor.org

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED