The National Association of REALTORS applauds the Consumer Financial Protection Bureau's announcement of a two-month delay for implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure (TRID) regulation, which will affect the loan application and settlement process.

In a statement from NAR President Chris Polychron, "The action announced by the CFPB is a welcome step.  NAR has long advocated the need to avoid implementing the new regulation during the peak summer selling season. NAR appreciates the CFPB's extension to October 1, 2015 as well as the earlier 'sensitivity' they offered to companies making a good-faith effort to comply with the new TRID regulation."