A borrower submits an application for a property they describe as '123 Main Street, Anytown, USA' but doesn't provide a state or ZIP code. They claim the address is sufficient since it's the only Main Street in the small town. Is this application complete under TRID?
Correct Answer
B) No, a complete address including state and ZIP code is required
TRID requires sufficient property address information to identify the property. While there's no specific format mandated, best practice and regulatory guidance indicate that a complete address including state and ZIP code should be provided to properly identify the property and ensure accurate disclosures.
Why This Is the Correct Answer
TRID requires sufficient property address information to identify the property. While there's no specific format mandated, best practice and regulatory guidance indicate that a complete address including state and ZIP code should be provided to properly identify the property and ensure accurate disclosures.
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