Housing Wire: House passes bipartisan TRID grace period bill 303-121

by Jeff Sovern

Here. The first paragraphs read:

Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan vote of 303-121.

The bill, the Homebuyers Assistance Act, provides a four-month grace period for businesses that are working in good faith to comply with a new 1,888-page rule from the Consumer Financial Protection Bureau that went into effect Oct. 4.

The article doesn't note until the eleventh paragraph the purpose of the regulations (to enable consumers to learn their mortgage payment obligations, ignorance of which contributed to the defaults and foreclosures leading to the Great Recession), and fails to mention at all that the regulations were announced nearly two years ago.

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