Compliance Action, Volume 20, Number 5
In an effort to harmonize coverage and provide consumers with a better mortgage shopping tool, the Dodd-Frank Act integrated Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) disclosures – now known as TRID.
The new TILA/RESPA Integrated Disclosure (TRID) rules significantly transform the three settlement service fee categories used when preparing costs for the Loan Estimate and Loan Closing Disclosure
The TRID rules require early estimated (yet accurate) disclosure of loan settlement costs. Understanding how the old RESPA tolerances compare to the new TRID tolerances can help.
- CFPB Revises HUD Booklet
- FDIC's Unbanked Survey
- FRB's Community Advisory Council
- CFPB Request for Credit Card Information
- Photocopying Military ID Cards
- DOJ's ECOA Report
In the Editor's Opinion
How Not to Write a Regulation
The CFPB's attempt to make TILA and RESPA disclosures more palatable to the home-financing consumer focused on designing a form that works well for consumers, but doesn't quite fulfill the requirements of Regulation Z.
Compliance Q & A
- Executive Director:
- Lucy H. Griffin, Esq.
- Board of Advisors:
- Patti Blenden
John S. Byrne, Esq.
Robert P. Chamness
Phillips G. Gay, Jr.
Robert G. Rowe, III, Esq.
Michael D. Maher