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When Director Cordray was asked about whether the CFPB will implement a grace period for lenders dealing with the new requirements of the TRID rule, Cordray responded by saying the CFPB will have an informal grace period “for some period of months, I’m not going to be specific here … will be diagnostic not punitive.” To read Director Cordray's entire testimony click below: [Financial Services Committee Testimony](http://www.consumerfinance.gov/newsroom/written-testimony-of-cfpb-director-richard-cordray-before-the-house-committee-on-financial-services-20150929/)   Topics: [Regulatory and Compliance](https://blog.softprocorp.com/topic/regulatory-and-compliance) #### Stay up-to-date on the information about industry regulatory requirements, events, customer successes, company updates, and more! ### Subscribe to Email Updates ### Recent Posts [see all](https://blog.softprocorp.com/)   ### Posts by Topic - [Regulatory and Compliance (243)](https://blog.softprocorp.com/topic/regulatory-and-compliance) - [Integrations (82)](https://blog.softprocorp.com/topic/integrations) - [Saved You a Seat Webinars (74)](https://blog.softprocorp.com/topic/saved-you-a-seat-webinars) - [Guides & E-books (67)](https://blog.softprocorp.com/topic/guides-e-books) - [Testimonials & Case Studies (66)](https://blog.softprocorp.com/topic/testimonials-case-studies) - [Best Practices (61)](https://blog.softprocorp.com/topic/best-practices) - [Webinars (61)](https://blog.softprocorp.com/topic/webinars) - [Company News (55)](https://blog.softprocorp.com/topic/company-news) - [Events (40)](https://blog.softprocorp.com/topic/events) - [Technology (21)](https://blog.softprocorp.com/topic/technology) - [Reconciliation (16)](https://blog.softprocorp.com/topic/reconciliation) - [1099 (11)](https://blog.softprocorp.com/topic/1099) - [FinCEN (9)](https://blog.softprocorp.com/topic/fincen) - [SoftPro Select (7)](https://blog.softprocorp.com/topic/softpro-select) - [ClosingsLIVE (5)](https://blog.softprocorp.com/topic/closingslive) - [Commercial (1)](https://blog.softprocorp.com/topic/commercial) see all ## Ready to streamline your closing, title and escrow process? 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