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TILA-RESPA Industry News

  • We can help soften the compliance burden by helping you understand and implement the TILA-RESPA integrated disclosure (TRID) rule. Use these resources to deepen your knowledge and understanding, ultimately equipping you with the ability to navigate these regulatory changes with confidence.

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    Death for GFE and HUD-1 Docs Highly Exaggerated
    (Published January 19, 2018) In response to lenders mistakenly assuming that only two documents—the Loan Estimate and Closing Disclosure--matter when in fact other standard disclosure documents still have applicability, depending on the loan, Wolters Kluwer experts James Bork and Mark White clarify the circumstances around use of various TRID disclosure documents in this BankingExchange.com feature.
    The Morning Risk Report: Banks More Anxious About Managing Risk Entering 2018
    (Published December 2017) Citing results from Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey of 608 financial institutions, the Wall Street Journal reports that the majority of bank and credit union respondents are anxious about their ability to keep up with continuing regulatory compliance pressures in 2018.
    Determining the Loan Purpose: The New Challenges
    (Published December 21, 2016) One of the common threads running across the new Uniform Residential Loan Application (“URLA”), the disclosure requirements of Regulations X and Z (“TRID”), and the reporting requirements of Regulation C (“HMDA”) is the requirement that the lender identify the loan purpose. It is possible for the loan purpose to be the same for the new URLA and under TRID and HMDA. This article examines the need to recognize that the loan purpose may be different for each and what lenders can do to prepare for that eventuality.
    Top 5 Compliance Changes You Should Be Thinking About
    During the MBA Annual Conference, Andy Dunn, Senior Attorney with Wolters Kluwer, provided an overview on the Top 5 compliance changes you should be thinking about: UCD, HMDA, URLA, Dynamic vs. Static, and the Proposed TRID Rule. We created a recorded version for you to view and share with your colleagues.
    Mortgage Industry Reacts to Proposed Updates to TRID
    (Published August 11, 2016) Senior Attorney Andy Dunn shares his thoughts on the Consumer Financial Protection Bureau’s (CFPB) proposed amendments to TRID with MortgageOrb.com.
    Initial Thoughts: Did the CFPB Successfully Update TRID?
    (Published August 9, 2016) Senior Attorney Andy Dunn shares his thoughts on the Consumer Financial Protection Bureau’s (CFPB) proposed amendments to TRID with HousingWire.
    CFPB Shares Proposed TRID Amendments
    (Published August 2, 2016) On Friday, the Consumer Financial Protection Bureau (CFPB) released its notice of proposed rulemaking for the Know Before You Owe rule, commonly referred to as TILA-RESPA Integrated Disclosures (TRID). In their press, the CFPB emphasized four changes: 1) Tolerances for the total of payments; 2) Housing assistance lending; 3) Cooperatives; and 4) Privacy and sharing of information, along with minor corrections across several topic areas.
    Statement from Wolters Kluwer on CFPB's Decision to Reopen TRID Rulemaking
    (Published April 29, 2016) Yesterday, the Consumer Financial Protection Bureau (CFPB) in a letter to financial services industry trade associations and their members announced it will issue a notice of proposed rulemaking for its Know Before You Owe – Mortgages final rule. This rule is commonly referred to as the TILA-RESPA Integrated Disclosure (TRID) rule by the industry. Read Wolters Kluwer statement.
    10-10 TRID Compliance: Correcting the Closing Disclosure
    (Published February 29, 2016) In this TRID Compliance session, Sue and Sam discuss requirements in correcting errors in the closing disclosure as well as the Mortgage Bankers Association (MBA) letter to the CFPB and the CFPB’s response to the MBA.
    10-10 TRID Compliance: Loan Fees and Tolerances
    (Published January 13, 2016) Although the effective date has come and gone, compliance with the TILA-RESPA Integrated Disclosure (TRID) rule is just beginning.  Join compliance consultants Sue Burt and Sam Holle for our second installment in the 10-10 TRID Compliance series.  In this session, Sue and Sam review the TRID fee tolerance provisions and discuss potential trouble spots involving fees paid by other parties and fee overages.
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