New disclosure rules haven’t completely shut down the market for private-label mortgage bonds.

Redwood Trust is marketing a $345 million deal with substantial exposure to loans that are subject to the TILA-RESPA Integrated Disclosure Rule, also known as TRID, which is meant to help consumers understand the total costs of a home loan. Compliance has proven difficult, and some kinds of violations create assignee liability, meaning mortgage bond holders could be subject to losses on loans should borrowers successfully sue.

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