The deadline for implementing the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA) Integrated Disclosures (TRID) deadline has come and gone. And as one might expect, TRID was a hot topic at the recent MBA Annual conference in San Diego. In particular, there was much discussion about the impact that implementing TRID had on the industry. The Mortgage Bankers Association reported that for the week following the implementation of the (now called) Know Before You Owe (KBYO) disclosures, mortgage applications fell by 27.6 percent. The association directly attributed the decline to KBYO implementation, saying "Application volume plummeted last week in the wake of the implementation of the new TILA-RESPA integrated disclosures, which caused lenders to significantly revamp their business processes, and as a result dramatically slowed the pace of activity.” But after extensive discussions with customers and other lenders at the MBA conference, we're wondering if there isn't an alternate, more nuanced explanation.