The Consumer Financial Protection Bureau today released a fact sheet that covers the basics of using the TILA-RESPA integrated disclosures for construction loans. The fact sheet includes information on which construction loans are covered by TRID (open-end transactions or loans for a commercial purpose are not covered), as well as existing provisions for construction loan disclosures and guidance on disclosures for a loan with permanent financing as either one or two loans.
ABA, associations endorse bill to ban abuse of mortgage trigger leads
ABA and 16 groups are urging lawmakers to pass legislation banning the practice of credit reporting firms selling consumer contact information to lenders who then barrage those same consumers with unwanted solicitations.