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.
The lender is required to resolve all problems regarding title to the real estate, comply with all conditions of the commitment, close the loan before the expiration of the HUD-issued firm commitment and expiration of the credit documents, and submit the loan documents for endorsement within 60 days of loan closing.