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.
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
In 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
Just 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
The 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.
December 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.
Wednesday, 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.
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
The Mortgage Bankers Association has released a TILA/RESPA Integrated Disclosure Resource Guide to assist lenders in complying with TRID. For more information, click here.
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
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.
Thursday, 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
In 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.
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
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).
In 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.