Links in “Real Estate Settlement Procedures Act (RESPA/Regulation X)”
- OCC Releases New RESPA Handbook Booklet
Due to recent updates to Regulation X (RESPA), the OCC has updated portions of its handbook to reflect the most recent regulatory standards. Take a look at the changes here. [4/15/15]
- Wishful Thinking? Lawmakers Propose “Hold Harmless” Period for New Mortgage Disclosure Rules
Two chairs of House Financial Services subcommittees ask the CFPB to make Aug. 1 to Dec. 31, 2015 the "hold harmless" period for the enforcement of the combined RESPA and TILA integrated mortgage disclosure forms. To date, the CFPB has given little indication that it is willing to bend on the Aug. 1 date. [4/13/15]
- Time is Right to Advocate for These Three Regulatory Actions
The time is right to advocate for regulatory relief on TILA-RESPA, HMDA, and Fair Lending. [4/8/15]
- New Special Information Booklet Released
The CFPB announced the availability of the new RESPA Special Information Booklet now under the title of âYour Home Loan Toolkit: A Step-by-Step Guide." This version of the Booklet incorporates statutory amendments and the Loan Estimate and Closing Disclosure from the Bureau's final rule, Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X), and the Truth in Lending Act (Regulation Z) (Integrated Disclosures Final Rule). [4/3/15]
- So You’re Saying There’s a Chance of Delaying Integrated Mortgage Disclosure Rules?
A CFPB deputy director's comments at a conference that a delay of the planned Aug. 1 integrated mortgage disclosure rule deadline wasn't completely off the table, but an agency spokesperson subsequently squashed that notion. [4/1/15]
- Two House Committee Chairs Press CFPB to Create TILA/RESPA “Hold Harmless” Period
The two chairs of the House Financial Services Subcommittee are urging the CFPB to establish a 5-month âhold harmlessâ period for those working to comply with the new combined TILA/RESPA disclosure requirements that are effective August 1, 2015. The chairs believe this additional 5-month period will allow all parties time to address any compliance issues that may arise. [3/31/15]
- NCUA Looking for Good Faith Compliance With TILA/RESPA
NCUA Chair Debbie Matz told NAFCU CEO Dan Berger that the agency is looking for credit unions to exhibit reasonable and  good faith efforts to comply with the new TILA/RESPA combined disclosures that are effective August 1st. She added that the agency understands that credit unions may need time to do more extensive testing once their TILA/RESPA disclosure systems become fully operational. [3/27/15]
- Chart-topping Webinar Now Available!
A recorded webinar featuring NCUA's Debbie Matz and CFPB's Richard Cordray is now available online. Featuring topics ranging from RESPA/TILA to international remittances, you don't want to miss this one! [3/25/15]
- Industry Requests TILA-RESPA Grace Period
Pretty much every trade association in the country signed a letter requesting that the CFPB implement a grace period through the end of the year for those institutions seeking in good faith to comply with the TILA-RESPA Integrated Disclosure. [3/20/15]
- CUNA Asks CFPB for Further Reg Relief
In a comment letter to the CFPB, CUNA has asked that the Bureau consider additional regulatory relief from the TILA/RESPA mortgage servicing requirements in the form of adding exceptions to the 120-day delinquency rule, clarifying the process for force-placing insurance, raising the loan limit for âsmall institutionsâ from 5,000 to 10,000 loans, and expanding the scope of the successors in interest rule. [3/17/15]
