CFPB, Federal Agencies, State Agencies, and Attorneys General
The CFPB recently issued final amendments to the TILA/RESPA Integrated Disclosure (TRID) rule and a proposal to further amend the TRID rule. The CFPB has also issued an Executive Summary of the amendments.
Although the amendments will become effective 60 days after publication in the Federal Register, mandatory compliance with the amendments will be required for applications received on or after October 1, 2018. … Continue Reading
Last month, as part of its “Know Before You Owe project,” the CFPB began taking comments on two prototypes (named Hornbeam and Ironwood) of a settlement disclosure that combines the final TILA disclosure and the RESPA HUD-1 Settlement Statement. The CFPB received over 3,000 comments on the prototypes. This week, based on those comments, the CFPB posted two new prototypes (named Mimosa and Sassafras) on its website which it will be testing in Birmingham, Alabama and on which it is requesting public input.… Continue Reading
