August 5, 2015
Updates to Basic Manual Sections IV & V Effective Aug. 1st
The Basic Manual has changed. The Texas Department of Insurance recently
posted notice of adoption of the Texas Disclosure in sections IV (P-73) and V (T-64) of the Basic Manual. The effective date of the new Texas Disclosure rule was Aug. 1, 2015, however, the rule only requires the use of the form when the CFPB requires its new Closing Disclosure,
which will be effective October 3rd.
TLTA’s online
Basic Manual has been updated with these changes and our Basic Manual subscribers received updated, printable versions of the affected sections via email earlier this week. Additional Basic Manual updates are expected in September and in early 2016 and only TLTA Basic Manual subscribers will receive these updates, so
subscribe now to ensure you are compliant with the latest regulations.
House Committee Passes H.R. 3192 Bill to Delay TRID Enforcement
The House Financial Services Committee on Wednesday approved the Homebuyers Assistance Act. Sponsored by Reps. French Hill (R-Ark.) and Brad Sherman (D-Calif.), H.R. 3192 would delay the CFPB's ability to enforce violations of the TILA-RESPA Integrated Disclosures rule until Feb. 1, 2016, for companies making a good-faith effort to comply.
Read More from TLTA's Jim Hyland »
CFPB Releases Spanish Version of TILA-RESPA Form Guide
ALTA | July 30, 2015
The Consumer Financial Protection Bureau released the Spanish version of "Your Home Loan Toolkit," intended to help consumers understand the new Loan Estimate and Closing Disclosure forms that go into effect Oct. 3. The CFPB said the toolkit is designed to replace the Settlement Cost Booklet when the TILA-RESPA Integrated Disclosures go into effect.
Read More »
Warren vs. Cruz Over the Future of the CFPB
National Mortgage Professional Magazine | July 23, 2015
Two of Capitol Hill's most polarizing figures have begun a public duel on whether the Consumer Financial Protection Bureau (CFPB) should be abolished.
Read More »
Managing the Unintended Consequences of TRID
The M Report | July 20,2015
As the industry braces for the TILA-RESPA Integrated Disclosures rule to finally be implemented, mortgage bankers must put a plan in place to manage vendor liability and risk within the context of the new rule.
Read More »
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