Section 1 Short title
This Act may be cited as the “TRID Improvement Act of 2018”.
TRID Improvement Act of 2018
A BILL
To amend the Real Estate Settlement Procedures Act of 1974 to modify requirements related to mortgage disclosures.
Sec. 2 Amendments to mortgage disclosure requirements
Section 4(a) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)) is amended—
by striking “itemize all charges” and inserting “itemize all actual charges”;
by striking “and all charges imposed upon the seller in connection with the settlement and” and inserting “and the seller in connection with the settlement. Such forms”; and
by inserting after “or both.” the following: “Charges for any title insurance premium disclosed on such forms shall be equal to the amount charged for each individual title insurance policy, subject to any discounts as required by State regulation or the title company rate filings.”.