On Tuesday, April 12 at 2:00 p.m. Eastern the CFPB will conduct a one-hour webinar to answer frequently asked questions about the Know Before You Owe (TRID) mortgage disclosure rule, focusing on new questions and guidance received after the rule’s October 2015 effective date. Click here to register.
Tag Archives: TRID
ABA Survey Quantifies TRID Costs, Delays
Posted in CFPB, MortgageOn 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
Know Before You Sell: CFPB Letter on “Know Before You Owe” Implementation
Posted in CFPB, MortgageIn response to a written request from the Mortgage Bankers Association (MBA), Richard Cordray, Director of the Consumer Financial Protection Bureau, penned a response dated December 29, 2015, addressing implementation of the Truth-in-Lending Act- Real Estate Settlement Procedures Act Integrated Disclosure Rule (known as TRID) (the “Rule”). The Director responded to MBA’s concerns that the… Read More
CFPB Publishes Semi-Annual Rulemaking Agenda
Posted in Arbitration, Auto Lending, CFPB, Credit Reports, Mortgage, Payday Lending, Regulatory Developments, Student LendingJust in time for the holidays, the CFPB released its Fall 2015 rulemaking agenda on Friday, November 20. The agenda does not include any major surprises, but it does slightly revise the projected timeline for several highly anticipated rulemaking activities. This alert lays out the highlights to consider between doses of turkey, football, and family…. Read More
MBA TRID Resource Guide 2nd Edition
Posted in CFPB, Mortgage, Regulatory DevelopmentsThe Mortgage Bankers Association has released the 2nd Edition of its TRID Resource Guide. The guide has been updated to reflect new developments since TRID took effect on October 3, 2015. Click here for more information.
WEBINAR: Consumer Protection Provisions in the Dodd-Frank Act: Adjusting to the New Paradigm
Posted in Arbitration, CFPB, Events, Mortgage, Regulatory Developments, UDAAPDecember 3, 2015 1:00 pm – 2:30 pm EST Morrison & Foerster partners Nancy Thomas and Angela Kleine will speak on the “Consumer Protection Provisions in the Dodd-Frank Act: Adjusting to the New Paradigm” Lorman webinar on December 3. Click here to register.
EVENT: Key Truth in Lending Updates and Recent Changes Webinar
Posted in Events, Mortgage, Regulatory DevelopmentsWednesday, October 28, 2015 1:00 pm – 2:30 pm EDT Morrison & Foerster partner Don Lampe and associate Ashley Hutto-Schultz will speak on the October 28 Lorman webinar “Key Truth in Lending Updates and Recent Changes.” Click here to register.
CFPB Sends Industry Letter on TRID
Posted in CFPB, MortgageOn 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
MBA Releases New TILA/RESPA Integrated Disclosure Resource Guide
Posted in CFPB, MortgageThe Mortgage Bankers Association has released a TILA/RESPA Integrated Disclosure Resource Guide to assist lenders in complying with TRID. For more information, click here.
CFPB Publishes Results of eClosing Pilot Program
Posted in CFPB, MortgageOn 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, MortgageThe 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.
National Mortgage News Webinar: TRID: It’s Coming – Ready or Not
Posted in CFPB, Events, MortgageThursday, July 9, 2015 2:00 p.m. – 3:00 p.m. EDT Morrison & Foerster Partner Don Lampe will speak on National Mortgage News’ “TRID: It’s Coming – Ready or Not” webinar. With the deadline on the horizon, what can you do now to test your TRID readiness? More importantly, what can you do if you—or your… Read More
#ThrowbackThursday: TILA-RESPA Combined Disclosures: The Executive Perspective
Posted in CFPB, MortgageIn October 2014, Morrison & Foerster partner Donald Lampe presented “TILA-RESPA Combined Disclosures: The Executive Perspective” with the Community Mortgage Lenders of America. The presentation is available here.
Never Say Never: CFPB Gives Breathing Room for TRID Implementation
Posted in CFPB, MortgageAfter 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, MortgageMorrison & 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).
#ThrowbackThursday: TRID at the Crossroads: Where Are We Now – Where Are We Going?
Posted in MortgageIn January 2015, Morrison & Foerster partner Donald Lampe published the article “TRID at the Crossroads: Where Are We Now – Where Are We Going?” in Mortgage Compliance Magazine. Read the article here.