In October of this year the Good Faith Estimate (GFE), the Truth in Lending Disclosure (TIL), and the Real Estate Settlement Statement -HUD-1 (RESPA) used in residential mortgages will be replaced by the new Loan Estimate and Closing Disclosure established by the Consumer Financial Protection Bureau. Combine the acronyms TILA + RESPA + Integrated Disclosure to come up with “TRID”. The TRID Rule applies only to mortgage loan transactions that are subject to the disclosure requirements of the Truth in Lending Act and/or Real Estate Settlement Procedure Act. Cash sales are not subject to either, hence don’t have to use the new disclosures. This is also the case for Reverse Mortgages, HELOC & commercial loans.