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RESPA-TILA Harmonization

In November 2013, the Consumer Financial Protection Bureau (CFPB) integrated the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations.

April 17, 2015
As part of their obligations under the Real Estate Settlment Procedures Act (RESPA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act the Consumer Financial Protection Bureau issued an updated "Special Information Booklet" which is now known as the "Your Home Loan Toolkit."
April 9, 2015
On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) issued its final rule to integrate the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations. The final rule integrates existing disclosures with new requirements from the Dodd-Frank Act to improve consumer understanding of the mortgage process, aid in comparison shopping, and help to prevent surprises at the closing table. The new rule and changes go into effect on August 1, 2015.
April 6, 2015
Potential issues and concerns that real estate professionals should consider with the upcoming RESPA/TILA integration.
March 20, 2015
On March 19, 2015, NAR held a webinar on changes to the Real Estate Settlement Procedures Act and the Truth in Lending Act under the Dodd-Frank Act.
February 17, 2015
The HUD-1 settlement statement and Good Faith Estimate forms are going away on August 1. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. And last-minute changes face new hurdles. Learn about the changes in this walk-through.

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