TRID introduced which two main disclosure documents?

TRID introduced which two main disclosure documents?

• A. Loan Estimates (LE) and Closing Disclosures (CD)
• B. Truth in Lending Statement and HUD-1 Settlement Statement
• C. Appraisal Report and Title Commitment
• D. Good Faith Estimate and Settlement Statement

Answer: (A)

TRID brings the loan process into two clear, integrated disclosures to help you compare and understand costs from start to finish. The Loan Estimate is the early document that lays out the loan terms, projected monthly payments, and estimated closing costs. It replaces the older Good Faith Estimate and Truth in Lending disclosures, giving you a standardized snapshot to compare different loan options. The Closing Disclosure comes later and shows the final terms and the exact closing costs you’ll actually pay at closing. It replaces the HUD-1 Settlement Statement and the final Truth in Lending disclosures, providing a single, final set of numbers so you can verify everything matches your expectations before you sign. So, the two main disclosures under TRID are the Loan Estimate for early, estimated terms and costs, and the Closing Disclosure for the final, actual terms and costs. Other options reference older documents that TRID replaced and are not the two disclosures TRID uses.

TRID brings the loan process into two clear, integrated disclosures to help you compare and understand costs from start to finish. The Loan Estimate is the early document that lays out the loan terms, projected monthly payments, and estimated closing costs. It replaces the older Good Faith Estimate and Truth in Lending disclosures, giving you a standardized snapshot to compare different loan options.

The Closing Disclosure comes later and shows the final terms and the exact closing costs you’ll actually pay at closing. It replaces the HUD-1 Settlement Statement and the final Truth in Lending disclosures, providing a single, final set of numbers so you can verify everything matches your expectations before you sign.

So, the two main disclosures under TRID are the Loan Estimate for early, estimated terms and costs, and the Closing Disclosure for the final, actual terms and costs. Other options reference older documents that TRID replaced and are not the two disclosures TRID uses.