Links in “Integrated Mortgage Disclosures”
- What Cordray Doesn’t Get About the Integrated Disclosures
The CFPB's director says the bureau "listened carefully" to industry concerns that new integrated disclosure rules may frequently delay closings, so the bureau limited the circumstances under which such delays would occur. But here's what Cordray isn't fully taking into account. [5/14/15]
- Cordray Balks at Bill to Provide Hold Harmless Period for Integrated Disclosure Compliance
The CFPB Director has sent a letter to the House stating that the August 1 due date for the new integrated TILA/RESPA disclosures should not be overly burdensome as August is not a busy month for new mortgage applications, although he admitted that it is a busy month for mortgage closings. A recent House bill would provide lenders with a 5-month âhold harmlessâ bill from penalties and enforcement actions if the lender can demonstrate a good faith effort to comply with the new disclosure requirements. [5/8/15]
- 16 Trade Associations Lend Support to TRID Hold-Harmless Bill
A bill that would provide a hold-harmless period through the end of the year for the CFPB's TILA-RESPA integrated disclosures regulation receives the support of 16 trade associations, including those from both the banking and credit union industries. [5/7/15]
- Breathing Room for Good Faith Effort on New Disclosure Rules?
A bipartisan bill would shield lenders from regulatory enforcement and private lawsuits through year end if they make a good faith effort to comply with the new disclosure rules. [5/5/15]
- Regulations Z and X Guidebook
Interagency examination procedures have been developed to incorporate the most recent changes in both TILA and RESPA. [5/4/15]
- House Bill Provides TILA/RESPA âGood Faithâ Relief
A House bill would allow relief from threats of enforcement or lawsuits for financial institutions that demonstrate âgood faith effortsâ to comply with the new TILA/RESPA combined disclosures that go into effect on August 1, 2015. The proposed relief period would extend through the end of 2015. [5/4/15]
- 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]
