Morgage Disclosure

Don’t worry about the government: Prepare for October 3rd TRID

Written on August 24, 2015 at 1:57 pm

“Some civil servants are just like my loved ones They work so hard and they try to be strong I’m a lucky guy to live in my building They own the buildings to help them along.”  Lyrics from Talking Heads – 77: “Don’t Worry About the Government” Are you ready for TRID?  October 3, 2015  Read More Read More...

House Committee Passes Bills to Delay TRID Enforcement, Revise QM

Written on July 30, 2015 at 6:29 pm

JUL 29, 2015 5:57pm ET, WASHINGTON — The House Financial Services Committee approved a bill that would delay the Consumer Financial Protection Bureau’s enforcement of the new TILA-RESPA integrated disclosure rules. It also approved two additional bills addressing the qualified mortgage rule and GSE executive compensation.  Source: National Mortgage News, BY JOHN HELTMAN, read full article here. Read More...

CFPB Finalizes Two-Month Extension of Know Before You Owe Effective Date

Written on July 30, 2015 at 6:24 pm

JUL 21 2015, WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, to October 3, 2015.  Full announcement here. Read More...

CFPB Fails to Comply With Congressional Review Act

Written on June 18, 2015 at 10:45 am

Consumer Financial Protection Bureau (CFPB) Misses the Mark on TRID Guidance, notes the American Land Title Association (ALTA) in its June 4th article.  Read more.  Read More...

CFPB Proposes TRID Implementation Delay Until Oct. 1

Written on June 18, 2015 at 9:58 am

“CFPB Misses the Mark on TRID Guidance,” notes ALTA.   The Consumer Financial Protection Bureau (CFPB) announced a proposal to delay implementation of the TILA-RESPA Integrated Disclosures (TRID) rule until Oct. 1. (Source – American Land Title Association, June 4, 2015) The CFPB failed to timely notify Congress under the Congressional Review Act, which requires agencies  Read More Read More...

Integrated Mortgage Disclosure Rules & Compliance – Wells Fargo

Written on March 18, 2015 at 9:21 pm

How should you prepare for the August 1, 2015, effective date for the new TILA-RESPA Integrated Disclosure Rule? Wells Fargo issued its Settlement Agent Communication as of March 16, 2015 for compliance with the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rules. Read here. Read More...

CFPB Rules & Closing Compliance – Bank of America

Written on March 18, 2015 at 8:54 pm

How will the new Consumer Financial Protection Bureau (CFPB) rules impact your business?   Bank of America’s Agent Resource Center provides a Q&A addressing a range of questions.  In addition,  the letter to settlement agents covers specific compliance and implementation issues: Bank of America – CFPB Integrated Mortgage Disclosures 3 6 15-FINAL Read More...

U.S. Supreme Court focuses on consumer right of rescission

Written on February 9, 2015 at 11:01 am

Three days or three years?  A very recent U.S. Supreme Court case brings some focus on the very important consumer right of rescission as codified in the Federal Code at 12 C.F.R. § 226.23(a)(3) and 12 C.F.R. § 226.2(a)(13).   JESINOSKI ET UX. v. COUNTRYWIDE HOME LOANS, INC., ET AL., No. 13–684. Argued November 4, 2014—Decided  Read More Read More...

The CFPB will affect your real estate transactions

Written on February 9, 2015 at 10:07 am

REALTORS® Speak Out; Lenders Concerned: The National Association of REALTORS® (NAR) has begun to speak out about what the Consumer Financial Protection Bureau’s (CFPB) rule on integrated mortgage disclosures will mean for their members’ business. Stewart Title’s Guide to CSFB Compliance. These articles provide needed insight to real estate professionals on how the August 1 change  Read More Read More...

Qualified Mortgages: Do the Math

Written on January 9, 2014 at 9:06 pm

“You may have thought that surviving algebra meant you were done dealing with tough math problems. However, the upcoming Qualified Mortgage Rule from the Consumer Financial Protection Bureau (CFPB), which kicks in Jan. 10, 2014, has some industry participants back at the chalkboard, trying to get the numbers to add up.”  Article reprinted with permission  Read More Read More...