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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.

  • News, Articles & Resources

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    Post TRID 2.0: Managing Potential Compliance Risk
    (Published January 15, 2019) With updated TRID rules in effect, now is an ideal time for lenders to circle back and ensure implementation efforts hit the mark, are in compliance, and that disclosures match actual policies and practice. In this ABA Bank Compliance article, compliance expert Sue Burt provides guidance for lenders in complying with these revised rules.
    What Compliance Changes Will 2019 Bring?
    (Published January 2019) In a period of ever-evolving regulatory change, financial institutions are keenly focused on identifying their regulatory compliance and risk management priorities in 2019. In this IB Magazine cover article, Wolters Kluwer's Barbara Boccia offers insights on which areas firms should consider marshaling their resources for effective compliance.
    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.
    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.
    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.
    CFPB Clarifies Liability Concerns for Investors Buying TRID Mortgages in Letter to the MBA
    (Published January 7, 2016) The CFPB recently responded to a Mortgage Bankers Association (MBA) letter regarding investor concerns over liability for minor errors on the TRID documents. The letter provides insight into CFPB, other regulators, and the GSEs expectations regarding TRID compliance.
    10-10 TRID Compliance: The Loan Estimate & Disclosing Closing Costs
    (Published December 30, 2015) Although the effective date has come and gone, compliance with the TILA-RESPA Integrated Disclosure (TRID) rule is just beginning.  One area raising questions involves the proper disclosure of fees on the Loan Estimate. Sue Burt and Sam Holle, compliance consulting specialists with Wolters Kluwer, discuss in this our first installment of the 10-10 TRID Compliance series.
    Prequalifications and Preapprovals — What Are They and How Do the TRID Rules Affect Them?
    (Updated April 11, 2019) Prequalification and preapproval each describe a situation where a potential borrower tries to establish the amount of the mortgage loan that the borrower will be able to obtain. This article considers the differences and examines the TRID consequences.
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