On December 18, 2019, the CFPB published two Construction Loan Guides for disclosing construction and construction-permanent loans, respectively, under the TILA-RESPA Integrated Disclosure (TRID) Rule. The combined construction loan disclosure Guide provides TRID guidance for construction-permanent loans using one, combined Loan Estimate, and one, combined Closing Disclosure for both phases of a construction-permanent loan. The separate construction loan disclosure Guide provides TRID guidance for construction-permanent loans using a separate Loan Estimate and Closing Disclosure for each phase of the loan.
Full Memorandum
