A pro forma invoice is the same as a commercial invoice which, when used in international trade, represents the details of an international sale to customs authorities.
TRID requires process changes to the loan origination life-cycle, particularly in the way that lenders approach the closing of loans. Under the new rule, the closing process needs to be at least three days ahead to meet the Closing Disclosure timing requirement.
Under TRID, changes will be made to the following processes: â¢ The Loan Estimate must be placed in the mail or delivered no later than the third business day after receiving the application and no later than the seventh business day before consummation.