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CFPB's TILA-RESPA integrated mortgage disclosures rule (TRID) does not subject property insurance premiums, property taxes, homeowner's association dues, condominium fees and cooperative fees to the rule's "tolerances," the bureau said in announcing rule corrections Wednesday.

The error in the final rule, released in 2013, listed these fees incorrectly as "subject to tolerances." (These are regulatory tolerances for differences between costs disclosed in the new Loan Estimate and the Closing Disclosure.) The CFPB correction was effective yesterday; an addendum can be found on page 79829 of volume 78 of the Federal Register.

CFPB also made several related corrections to page 79829, in the first column in the 48th, 49th and 50th lines, from stating "are subject to tolerances whether or not they are placed into an escrow, impound, reserve, or similar account" to read "are not subject to tolerances whether or not they are placed into an escrow, impound, reserve, or similar account."

NAFCU's regulatory compliance team had received multiple questions about this issue and NAFCU continues to urge the bureau to provide clarification on other important regulatory issues, including TRID.