The TILA/RESPA Integrated Disclosure Rule amends which RESPA sections?

The TILA/RESPA Integrated Disclosure (TRID) Rule amends specific sections of the Real Estate Settlement Procedures Act (RESPA) to streamline and improve the disclosure process for mortgage borrowers. The sections impacted by this rule are primarily 4 and 5.

Section 4 of RESPA focuses on the requirements for disclosures relating to settlement costs, whereas section 5 deals with the use of required disclosures for mortgage loans. By amending these sections, the TRID Rule consolidates and simplifies the various forms into two key documents: the Loan Estimate and the Closing Disclosure. This integration aims to enhance transparency for borrowers, enabling them to better understand the costs associated with their mortgages, and ultimately making informed financial decisions.

The other sections noted in the options are not directly related to the amendments brought by the TRID Rule. Therefore, sections 4 and 5 are the correct focus as they align with the intent of the TRID to provide clearer and more concise information to consumers during the mortgage loan process.