ABA has added a new online course on the TILA-RESPA integrated disclosures to its free Frontline Compliance Training program. Since all customer-facing staff who discuss mortgage products or take loan applications will need to understand and be able to explain the new TRID forms, this course is designed to provide bank employees with an overview of the new forms and requirements.
Browsing: TILA-RESPA integrated disclosures
ABA and several other trade groups yesterday urged the House Financial Services Committee to advance H.R. 2213, a bipartisan bill that would establish a “hold harmless” period after the new TILA-RESPA integrated mortgage disclosures take effect on Aug. 1.
ABA submitted a statement for the record in today’s House Financial Services Committee hearing on protecting consumer financial choices.
Consumer Financial Protection Bureau Director Richard Cordray told members of Congress yesterday that when enforcing the TILA-RESPA integrated mortgage disclosures starting on Aug. 1, the bureau would be “sensitive” to good-faith efforts by lenders to comply.
With the Aug. 1 TILA/RESPA integrated disclosure implementation date approaching soon and members facing questions about the complex new requirements, ABA has created a webpage dedicated to TRID frequently asked questions.
Hundreds of lawmakers wrote to the Consumer Financial Protection Bureau last week urging Director Richard Cordray to provide an enforcement grace period after the TILA-RESPA integrated disclosures take effect on Aug. 1 running through the end of 2015.
The rush to implement the TILA-RESPA integrated mortgage disclosures on Aug. 1 poses risks to customers, Cindy Lowman told a House Financial Services Committee panel today.
Mortgage bankers preparing for the implementation of the TILA-RESPA integrated disclosures are uncertain that they and their vendors will be ready for the switchover to the new disclosure regime, which takes place for all mortgage applications starting Aug. 1, according to an ABA survey released today.
Cynthia Lowman — president of United Bank Mortgage Corp., Grand Rapids, Mich., and chairman of ABA’s Mortgage Markets Committee — will testify on ABA’s behalf on Thursday at a House Financial Services subcommittee hearing on implementation of the TILA-RESPA integrated disclosures that take effect Aug. 1.