Links in “Truth in Lending Act (TILA/Regulation Z)”
- Deciphering New Points and Fees Definitions of Reg. Z
All the inclusions and exclusions make the new definitions of points and fees in Reg. Z "more complicated than the tax code." [11/8]
- How Appraisals Are Affected by New Higher-Priced Mortgage Rules
One of the many changes heading our way in January 2014 (on the 18th, to be precise) is an amendment to Reg. Z incorporating new provisions concerning appraisals for higher-priced mortgages. Hereâs a plain-English breakdown of whatâs required. [10/16]
- Stearns Allegations Provide TILA Training Reminder
Complaint from former chief appraiser alleges company recruited mortgage brokers and loan officers by telling them they could provide their own personal list of appraisers to be included on the approved panel for the appraisal process, a violation of Truth in Lending Act rules. [8/20]
- CFPB Releases Semi-Annual Regulatory Agenda
Not many surprises here: mortgage lending will continue to be a strong focus as the agency continues to tweak the new rules that are scheduled to go into effect in January 2014; also, the Bureau is gearing up to issue its final rule on the combined TILA/RESPA disclosure in October 2013 and amending Regs CC and HMDA. [8/5]
- Put on those Reading Glasses: X & Z Amendments Released
CFPB tackles array of Regulation X and Z mortgage rule topics including tough DTI calculation issues on ability to repay (ATR) and prepayment on higher-priced mortgage loans (HPMLs). Exclusions on construction and bridge loans provided on ATR and prepayment penalties.[7/24]
- AMG Settles on Debt Collection Charges
Partial settlement against EFTA and UDAAP violations on payday lender with additional ruling that affiliated American Indian Tribe entities remain under coverage of TILA, FTC Act (UDAAP) and EFTA. [7/22]
- RESPA/TILA Question on Applicability of Attorney’s Fee
Banker asks if FDIC was correct in citing bank for TILA violation because it did not disclose the attorney's fee as a prepaid finance charge. [7/19]
- New Combined Mortgage Disclosures Expected in the Fall
CFPB announces that new combined TILA/RESPA disclosure rule should be issued this fall; however, the CFPB notes that the implementation date would likely not be until sometime after the other new mortgage rules take effect in January 2014. [7/8]
- TILA Lawsuits Down, But Not Out
16 lawsuits in federal courts over alleged Truth in Lending violations in May, less than half filed a year earlier; but new regulations and a heavier focus on consumer protection are inspiring fears that litigation could increase. [7/5]
- Clarifying Amendments Proposed for Regs. B, X, and Z
CFPB's proposed amendments to Reg. B, Reg. X and Reg. Z address mortgage loan servicing, loan originator compensation, fee thresholds for high rate/high fee mortgages and qualified mortgages, exemptions for certain creditors, prohibition on creditor-financed credit insurance, and effective dates for certain provisions. [7/2]
