What document specifies the requirements for mortgage disclosures since the Dodd-Frank Act?

The correct answer is the TILA-RESPA Integrated Disclosures, known as TRID. This document was established following the Dodd-Frank Act to simplify and streamline the mortgage disclosure process for consumers. It combines two important statutes: the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA).

TRID was designed to provide clearer and more comprehensive information about mortgage loans to consumers. It requires lenders to provide a Loan Estimate form, which outlines the key loan terms and estimated project closing costs within three business days of receiving a loan application. This allows borrowers to better understand the loans they are considering, enhancing transparency and making it easier for them to compare different mortgage offers.

Understanding TRID is crucial for anyone involved in real estate transactions in Colorado, as it directly impacts the documentation process for mortgage loans, ensuring that consumers are well-informed before committing to a mortgage. The other documents listed, while relevant to real estate transactions, do not specifically encompass the comprehensive changes brought about by the Dodd-Frank Act regarding mortgage disclosures.