The third version of the Compliance Review Scope—formerly known as the SFIG RMBS 3.0 TRID Compliance Review Scope, now known as the SFA TRID Compliance Review Scope (“TRID Grid 3.0”)—was published on December 5, 2019. The foundation of the new scope’s primary consideration is the elimination of testing origination compliance on aspects that do not carry assignee liability or impair the asset. The secondary consideration is the elimination or alteration of testing those areas that may carry assignee liability, but based on the specific area being addressed, the probability of actual losses is minimal. This new scope will reduce the testing performed during a compliance review on loans to be included in a rated securitization.

To view the TRID Grid, click here.