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 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.
Latest posts by TitleTap (see all)
- Podcast: Ep. 13: Marketing Strategies for Title Companies with Dean Collura of TitleTap - June 29, 2020
- PropLogix Webinar: SOCIAL MEDIA MARKETING FOR CLOSING AGENTS - June 11, 2020
- 7 Best Solo & Partner Law Firm Website Examples - May 29, 2020
