Under the TRID rule, creditors must retain Escrow Cancellation and Partial Payment Policy disclosures for two years; Loan Estimate records for three years after loan consummation and Closing Disclosures for FIVE years.

If a creditor sells or transfers their interest they must provide a copy of the Closing Disclosure to the new owner or servicer and both parties must retain it for the remainder of the 5-year period. Records CAN be stored digitally but it is NOT required.

TRID does not define how long consumers should keep disclosure records.

 

TitleTap

TitleTap

TitleTap provides turn-key websites and marketing tools like Video, Social Media Management, and Email Marketing for Title Agents and Real Estate Attorneys. Get more great marketing tips like this specifically relevant to Real Estate, Title Insurance, Mortgage Lending, and Law by subscribing or visiting our blog above.
TitleTap

Related Post

What Is A ‘Business Day’ For Real Estate Loan Disclosures? http://fwd4.wistia.com/medias/m6o5f58kz7?embedType=iframe&videoFoam=true&videoWidth=640 “Business day” is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count as a business day. ...
Understanding Your Loan: Cash And Transaction Summaries http://fwd4.wistia.com/medias/8qhhzg142m?embedType=iframe&videoFoam=true&videoWidth=640 Page 3 of your Closing Disclosure will compare cash requirements from your Loan Estimate to your actual final charges. If “Did this change?” is “YES” notes for changed sections should be provided. ...
How To Get My Title Agency Found On Page 1 Of Google One of the biggest things our title agency website builder customers ask us after we launch their shiny new website is “how to be found online.”   What they are really asking here is how do we use this website to bring in more business with their website. Although TitleTap website templates co...
Don't Go At It Alone. Download The Free PDF!"10 Uncommon Questions to Ask Before Hiring a Web Designer"

All websites are not created equal! Download a free PDF with all of the questions you need answered BEFORE hiring a web designer.

Download Now