Links in “Real Estate Settlement Procedures Act (RESPA/Regulation X)”
- RESPA/TILA Rule Reminder
Don't forget, there are only 12 days left in the public comment period for proposed changes to the integrated RESPA/TILA mortgage disclosures. Make sure you're up-to-date on the most recent proposed changes. [10/29/14]
- More Assistance for TILA/RESPA Disclosure Changes
The CFPB has issued an updated âreadiness guideâ to assist financial institutions in preparing for the new combined TILA/RESPA disclosures that go into effect August 1, 2015. The guide provides checklists to assist with you with updating your policies and procedures. [10/9/4]
- CFPB’s Third Verbal Q&A on New Loan Estimate Disclosures
Despite industry calls for a written Q&A, CFPB proceeds with its plan for only spoken Q&As on the new TILA-RESPA integrated disclosure rules. The third in the series addressed more than 30 technical questions. Here is a recap. In writing. [10/8/14]
- TILA-RESPA Webinar Recap
Did you miss the CFPBâs most recent TILA-RESPA webinar? Lucky for you, a list of questions and answers has been prepared to summarize the webinar. [10/7/14]
- MSAs Prove Not to Be a Good RESPA Workaround
Title insurance agency in Michigan found out the hard way that paying fees to companies under market services agreements based on referrals received was not a good way to get around RESPA requirements. [10/2/14]
- CFPB Kicks Back Against Kickbacks
Lighthouse Title has been ordered by the CFPB to pay $200,000 for referrals which violated RESPA. Director Cordray, stated, "[we] will continue to take action to ensure that the mortgage market is a level playing field where everyone plays by the rules." [10/1/14]
- TILA-RESPA: What to Do “Between Now and Then”
NAFCU is offering advice to the credit union unsure of what to do between now and the implementation of the TILA-RESPA rule, which is still nearly a year away. [9/26/14]
- CFPB Hopes to Nip TILA-RESPA Disclosure Confusion in the Bud
The third TILA-RESPA Integrated Disclosures webinar will be held Wednesday, October 1, 2014. The session will focus on both compliance and interpretive questions and implementation challenges. [9/22/14]
- Do the TILA/RESPA Rules Conflict with State Laws?
NAFCU and CUNA think so. They are amongst a group of 13 other financial trade organizations who sent a letter to the CFPB urging them to take a look at state laws that potentially contradict (or duplicate) the new TILA/RESPA rules. [9/18/14]
- Back to Kickbacks
Another institution, Flagstar Bank, is being sued for allegedly participating in an illegal âkickbackâ scheme. This scheme dealt with private mortgage insurers, violated RESPA, and has been granted a summary judgment motion. [7/24/14]
