Links in “Truth in Lending Act (TILA/Regulation Z)”
- CFPB Throws Nonprofits a Bone
The CFPB proposes amendments to several mortgage rules issued in 2013. The proposed rule would provide an alternative definition for small servicers for certain nonprofit entities, amend existing exemptions from the ability-to-repay rule for certain nonprofit entities, and provide a limited cure mechanism for the points and fees limit that applies to qualified mortgages. [5/6]
- Credit Crunch Fallout: CFPB Proposes to Ease QM Rules
CFPB proposal seeks adjustments to mortgage rules to ensure access to credit by certain nonprofit organizations that work with underserved populations. The proposal notes the limited circumstances where lenders that exceed the points and fees cap can refund the excess amount to consumers and still have the loan be considered a Qualified Mortgage. [5/1]
- Resources for TILA/RESPA Integrated Disclosure Forms
Need a little help processing the pending changes to the Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure forms? Here are some resources. (Also see our video on the subject, Risk Watch 9.) [4/23]
- Risk Watch Episode 8: Integrated Mortgage Disclosures
AffirmX's Senior Analyst Coppelia Padgett takes us on a brief tour of the TILA and RESPA integrated loan disclosures and suggests what institutions should do now to prepare for the August 1, 2015 implementation. [4/10]
- CFPB Issues Integrated TILA-RESPA Compliance Guide
New 89-page guide provides timing, steps to compliance, new form guidance on Loan Estimate Form and Closing Disclosure Form, Q&As on key sections of both forms, required and prohibited practices, and Escrow disclosure. [4/2]
- A Look at the CFPB’s New Integrated Disclosure Rule
The CFPB has created a unified mortgage disclosure rule combining the Good Faith Estimate and the initial TILA disclosure to create a new form, the Loan Estimate. It has issued an accompanying guide. [4/2]
- 89-Page Compliance Guide Beats 2,000-Page Final Rule
The CFPB's new Small Entity Compliance Guide for the TILA/RESPA integrated disclosures rule clocks in at 89-pages, which seems long, but is substantially more manageable than the nearly 2,000-page final rule. Here's some info on the guide. [4/2]
- Risk Watch 5: TILA and a Potentially Troublesome Oversight
Amendments to the Truth in Lending Act may make it appear that small servicers are exempt from the requirements to post their credit card agreements online. AffirmXâs senior analyst, Coppelia Padgett, explains why a closer look is a good idea.
- OCC Adopts Interagency Examination Guidelines for RESPA/TILA
The OCC announced the adoption of the interagency examination procedures reflecting new mortgage rules requirements under Dodd-Frank with procedures on assessing an institutionâs compliance with the new mortgage rules and conducting examinations. [3/17]
- Do You Know What Your Real Liability Exposure Is under the Ability to Repay Rule?
Much has been written about the technical requirements under the CFPBâs new Ability to Repay rule. However, until now, very little has been written about a financial institutionâs liability exposure for violating the rule. This article provides eye-opening information. [2/27]
