More accurate Construction loan TRID trigger conditions

Date Available:

Beta 7/25, Prod 8/22

Which customers are impacted?:

Customers using Blend for Construction loans.

How to turn on:

This feature will be automatically enabled for all customers on the dates listed above.

Purpose of Update and Benefit:

For construction loans, TRID trigger logic around when the borrower has specified owning the lot has been updated. Loans with property addresses consisting of lot or parcel number and zip code will meet the address requirement for TRID in Blend.

Current Behavior:

Currently, the TRID requirement for property addresses for construction loans was handled differently depending on whether the borrower owns the lot.

For construction loans where the borrower owns the lot, the TRID requirement is only satisfied if the property address includes street address, city, state, and zip code.

For construction loans where the borrower does not own the lot, the TRID requirement is satisfied if the property address includes the lot/parcel number and zip code.

New Behavior:

When enabled, the TRID requirement for property addresses for construction loans will be the same, regardless of whether the borrower owns the lot. If the property address includes the lot/parcel number and zip code, that will satisfy the TRID requirement.

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