Beginning August 1st, 2015  ( see the proposed date change below ) the CFPB ( Consumer Financial Protection Bureau ) will mandate a new closing process known as TRID which is designed to increase transparency for consumers. Basically, the CFPB wants consumers to "know before they owe!" TRID stands for Tila-Respa Integrated Disclosure. UPDATE: on June 17th, the CFPB issued a statement that said: The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before … [Read more...]