Header graphic for print
MoFo Reenforcement The Enforcement Blog

Tag Archives: TILA-RESPA

CFPB Issues FAQs for the TRID Rule

Posted in CFPB, Regulatory Developments

The Consumer Financial Protection Bureau (CFPB) recently posted a new compliance tool on its website – answers to frequently asked questions (FAQs) about the TILA-RESPA Integrated Disclosure Rule (“TRID Rule”). The FAQs were posted without advance notice or comment, signaling that perhaps the CFPB will dispense with lengthy processes when providing written guidance. What follows is a… Read More

ABA Survey Quantifies TRID Costs, Delays

Posted in CFPB, Mortgage

On March 1, the American Bankers Association published results of its 2016 TILA-RESPA Integrated Disclosures (TRID) Survey. The Survey aggregates data gathered between February 1, 2016 and February 17, 2016, from 548 of the ABA’s member banks. The Survey questions focused on costs and related effects of the CFPB’s TRID rule, which became effective in… Read More

CFPB Sends Industry Letter on TRID

Posted in CFPB, Mortgage

On October 1, regulators including the CFPB sent a letter to mortgage industry trade groups regarding TRID. The letter states that: “During initial examinations for compliance with the rule, the Bureau’s examiners will evaluate an institution’s compliance management system and overall efforts to come into compliance, recognizing the scope and scale of changes necessary for… Read More

CFPB Publishes Results of eClosing Pilot Program

Posted in CFPB, Mortgage

On August 5, the CFPB released a 90-page report summarizing the results of its eClosing pilot program, a research initiative launched in April 2014 to explore whether electronic closing processes offer measurable benefits to mortgage borrowers. According to the CFPB, the pilot program was part of the agency’s overall “Know Before You Owe” campaign, through… Read More

CFPB TRID Webinar Series

Posted in CFPB, Mortgage

The CFPB has released a recording of its most recent webinar on the TILA-RESPA Integrated Disclosures rule, “TILA-RESPA Integrated Disclosure, Part 5: Implementation Challenges and Questions.” To view this webinar, and parts 1-4 in the CFPB TRID webinar series, click here.

Never Say Never: CFPB Gives Breathing Room for TRID Implementation

Posted in CFPB, Mortgage

After months of playing hard-to-get with industry advocates, the CFPB’s Director Richard Cordray put out a statement that the CFPB is proposing to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) by two months, from August 1 to October 1. According to Cordray, the time extension is being granted to correct an “administrative… Read More

Donald Lampe Comments on TRID Litigation Risk

Posted in CFPB, Mortgage

Morrison & Foerster Partner Donald Lampe is featured in the Law360 article, “Litigation Tops Lenders’ Fears in Home Closing Overhaul.” To read the article, click here (subscription required).

The CFPB 2015 Forecast: Continued Cloudiness, Thunderstorms Likely

Posted in CFPB, Regulatory Developments, UDAAP

This will be a busy year at the Consumer Financial Protection Bureau (CFPB), and that certainly means it will be a busy year for financial institutions as well. In addition to exercising its supervisory and enforcement authorities, the CFPB is poised to issue a number of proposed rules and finalize several other rules it proposed… Read More

TILA-RESPA Integrated Disclosure Rule Updates and Additional

Posted in CFPB

On September 8, 2014, the Consumer Financial Protection Bureau (CFPB) issued an updated Small-Entity Compliance Guide to the new TILA-RESPA integrated disclosure rule. This updates the original guide issued in April 2014 to provide additional resources on the rule and to clarify questions related to the seven-day waiting period, Loan Estimate form, and the timing of… Read More