IN THE SENATE OF THE UNITED STATES
March 5, 2018
Mr. Scott (for himself and Mr. Jones) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Real Estate Settlement Procedures Act of 1974 to modify requirements related to mortgage disclosures.
This Act may be cited as the
TRID Improvement Act of 2018.
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—
itemize all charges and inserting
itemize all actual charges;
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..