CFPB Webinar on RESPA-TILA
On Tuesday Aug. 26, 2014 at 2:00 PM EDT the Consumer Financial Protection Bureau (CFPB) and Federal Reserve will be hosting a webinar on the implementation of changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). In addition to major changes to the loan disclosure and closing forms themselves, the new rules will require that the settlement statement be completed three days prior to closing. The new forms and rules go into effect less than one year from now and industry is working diligently to put together systems and train staff to deal with the new forms and rules as well as integrating the new rules with local customs and practices. This webinar is part of the process of answering questions and concerns relating to implementation. All those with an interest in disclosures, the closing process, and RESPA/TILA should sign up and listen in.