The Closing Disclosure
http://files.consumerfinance.gov/f/201311_cfpb_kbyo_closing-disclosure.pdf

The Loan Estimate
http://files.consumerfinance.gov/f/201311_cfpb_kbyo_loan-estimate.pdf

And here is the CFPB's summary. I just hate the way they continue to editorialize.

http://files.consumerfinance.gov/f/20131...m_source=Eloqua

Hooray! More rules!! Can't wait!! Really, get a life.

Looking forward to it! Can't wait!

(this is what I have to tell myself to keep any kind of motivation I had keep going)

Looking like RESPA/TILA will consume my life for 2014 and 2015. Gotta get past the January stuff first.

I'm just thankful we have until August of 2015! I was honestly (pessimistic, I know) expecting late 2014. This is much better.

Just remember, this is only the first of what will likely be, based on CFPB's short history, many "final" versions.

I am shocked that we have until 2015. I was really thinking they were going to hit us mid 2014.

Now if we can just get them to delay all these other rules!!!!!

I think that would take a miracle!

Here's the final rule. 1,888 pages.

http://files.consumerfinance.gov/f/201311_cfpb_final-rule_integrated-mortgage-disclosures.pdf

Is the exemption for 25 acres or more going away?

I had heard that it was.

Yes it is.

From page 104 of the final,

The Bureau believes that consumers of consumer-purpose loans secured by property of 25 acres or more should obtain the
integrated disclosures, as they would be just as useful to such consumers as to consumers of loans secured by smaller areas of real property. See section-by-section analysis of §1026.19 in general, below. The Bureau believes such disclosure is consistent with section 1032(a) of the Dodd-Frank Act. The Bureau therefore exercises its authority under Dodd-Frank Act section 1032(a), RESPA section 19(a) and, for residential mortgage loans, Dodd-Frank Act section 1405(b) to eliminate the exemption for loans secured by property of 25 acres or more in § 1024.5(b)(1) of Regulation X.

I am wondering about the date this will go away. I am reading the final and may be missing it but I don't see a date. Does anyone know?
Thanks,

I would assume when the rest of the stuff kicks in- 8/1/15

Yes, it's August 1 of next year.

It seems one first step for banks is to check that their vendors have begun working on this combination programming. From that perspective, it at least equals if not exceeds any programming that was needed for the January 2014 changes.

Does anyone have information on the new "Save Your Home" HUD letter? Does it replace the old HUD document we had to send with past due notices and the Service Members notice?

Here's the HUD Mortgagee Letter. http://portal.hud.gov/hudportal/documents/huddoc?id=14-01ml.pdf

That document is to all FHA approved mortgages. So, then, because this government tends to be gray in many of their directives (are we no longer a democracy?) is the new brochure only for FHA loans or are we all required to provide the new brochure to past due mortgagees, and is the old HUD letter obsolete when the new brochure is required?

HUD Mortgagee Letter 2006-28 has not been rescinded. You still have to provide the SCRA notice on FHA and conventional mortgage loans.

I guess this is a self-serving "pat us on the back" statement here:

Now, more than 17 years after
Congress first directed the Board and HUD to integrate the disclosures under TILA and RESPA,
the Bureau publishes this final rule.

I actually vaguely remember the prior attempt at integration...it was like 5 legal pages long...I forget what this one ended up.

One reason those early attempts flopped is that there were two agencies with competing agenda involved. Each one felt its regulation and law was more important.

A lot of water has flowed over the dam since then, and at long last there's one agency writing rules for both RESPA and TILA. That made the difference.

Yeah, I understand that, it was just the way it was worded.

I think the settlement agent vs creditor 'debate' starting around page 477 and droning on for around 20 pages is...hilarious? So typical.