Troubleshooting and Resolving TRID Triggering Issues for Loan Files
Introduction
The TRID disclosure process is crucial in loan documentation. However, issues may arise where TRID is not properly triggered, leading to delays in the disclosure process. This article outlines the common reasons why TRID might not be triggered and step-by-step solutions to resolve these issues in a straightforward manner.
Why TRID May Not Be Triggered
There are several reasons why the TRID disclosure process may not start for a loan file. Understanding these common issues and prerequisites can help you identify and address problems effectively:
Missing Prerequisites: TRID requires the completion of all six key elements of the "big 6" before it can be triggered. Check for missing information like credit, income, or other essential data in the system.
Incorrect Configuration: If the loan type is not listed as a brokered loan or specific program details do not align with system expectations, TRID may fail to initiate. Ensure that these details are configured correctly.
Conflicting Loan Files: Creating a second loan file before properly triggering TRID on the primary file can also cause issues, preventing disclosure generation.
Resolving TRID Triggering Issues
If you encounter TRID-related errors, follow these procedures to resolve the issue:
1. Verify Loan File Prerequisites
Ensure all six elements of the "big 6" required for TRID triggering are completed.
Double-check the loan configuration to confirm it is marked correctly as a brokered loan, where applicable.
Verify that all input data is accurate and complete.
2. Address Errors with Conflicting Loan Files
Sometimes, TRID is prevented from triggering due to duplicate loan files. Follow these steps to fix this:
Delete the Duplicate Loan File: - Navigate to the primary loan file. - Remove the second loan file created from the primary file.
Create a New Second Loan File: - Once the duplicate file is deleted, return to the primary loan file. - Use the correct process to generate a new second loan file. This should now trigger TRID properly.
Conclusion
Ensuring that TRID is triggered successfully requires attention to loan file prerequisites and detailed actions to address system errors. By following the steps outlined in this guide, you can troubleshoot and resolve issues effectively, maintaining compliance and avoiding delays in disclosure processing.