On May 31, 2019, the CFPB updated their list of Frequently Asked Questions (FAQs) relating to the TRID rules. This update, the first since the release of the FAQs in early 2019, added two questions and answers relating to construction loans. As we previously explained when the FAQs were first released, these two FAQs really don’t provide us with any new information. Specifically, the first construction loan question discusses how both construction-only and construction-permanent loans are covered by TRID while the second construction loan question explains the special disclosure provisions for construction-only or construction permanent loans.
The full list of FAQs (currently just 6 questions and answers) can be found here.