Must the Bank Update the Loan Estimate if It Becomes Aware of Increases to Fees Unrelated to Extension of Rate Lock Agreement?
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
Browsing: TILA-RESPA integrated disclosures
CFPB Comments on Juneteenth Questions During ABA Regulatory Conference
Today, a panel of representatives from the FDIC, OCC, the Federal Reserve and the Consumer Financial Protection Bureau discussed a range of issues during third day of ABA’s Regulatory Compliance Conference. Among the topics on the agenda was the newly enacted Juneteenth holiday—observed on Friday, June 18.
CFPB Issues Statement on Juneteenth Mortgage Closing Delays, Signals Further Guidance
After advocacy by ABA, the Consumer Financial Protection Bureau issued a statement last night on mortgage closing delays that might have been caused by the abrupt enactment of the new Juneteenth federal holiday, observed yesterday.
ABA Urges CFPB to Provide Guidance on Last-Minute Holiday’s Effects on Mortgage Closing
Despite urgent requests from ABA and others, the Consumer Financial Protection Bureau has thus far indicated to ABA staff that it has no plans to issue guidance on how the newly enacted Juneteenth holiday—being observed today, June 18—affects the timing of disclosures required for mortgage transactions in process
May I Send Adverse Action Notices to Joint Applicants at the Same Mailing Address—Even if They Reside at Different Addresses?
. . . and other questions and answers from the March/April 2021 ABA Regulatory Policy and Compliance Inbox.
CFPB Assessment Finds TRID Rule Imposed ‘Sizable’ Costs for Lenders
The Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure Rule “appears to have created sizable implementation costs for lenders,” the bureau concluded in its five-year lookback assessment of the 2015 rule.
CFPB Updates Process for Determining ‘Underserved’ Counties
In an interpretive rule issued today, the CFPB provided guidance on how it will determine which counties qualify as “underserved” for a given calendar year, as required by Regulation Z.
CFPB Announces Relief From TRID, Reg Z Waiting Periods
The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a greater ability to exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA integrated disclosures and Regulation Z rescission rules.
ABA, Groups Highlight TRID Burden Ahead of CFPB Assessment
As the Consumer Financial Protection Bureau prepares to conduct its five-year assessment of the 2013 TILA-RESPA Integrated Disclosure Rule, ABA joined several other financial trade groups in an extensive comment letter detailing how the rule has imposed significant and unnecessary costs and liabilities on lenders.
CFPB to Conduct Five-Year Review of TILA-RESPA Integrated Disclosure Rule
The Consumer Financial Protection Bureau today published its plan for conducting a five-year assessment of the 2013 TILA-RESPA Integrated Disclosure rule.