Items Tagged with 'Closing Disclosure'

ARTICLES

  • NAFCU supports CFPB TRID proposal to fix "black hole"

    Comment period closed Monday
    The Consumer Financial Protection Bureau shut the door on the comment period for its proposal to amend part of the TILA-RESPA Integrated Disclosure rule involving changes to the Closing Disclosure form. The bureau’s proposed amendments sought to resolve the "black hole" issue under TRID, an issue NAFCU strongly supports.
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  • Are you ready for GSEs' new UCD mandate?

    The deadline is upon us
    [Expert commentary] The deadline to achieve Uniform Closing Dataset compliance is upon us, and it will prove challenging. Fannie Mae and Freddie Mac’s UCD requirement deadline of September 25 is mere days away. So what are the available options in order to meet the UCD delivery requirements?
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  • NAR: Proposed TRID changes a "significant victory"

    Answers to the Closing Disclosure form are here
    The National Association of Realtors secured a victory in the changes announced Friday to the much-anticipated Consumer Financial Protection Bureau Know Before You Owe rule. The bureau gave much more concrete explanations for one of the biggest problem area — the closing disclosure.
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  • How to avoid feeling violated by the CFPB

    Recapping TILA-RESPA tolerances — 50 weeks out
    Previously averaging around $5,000 in total for RESPA violations, TILA-RESPA fines will be even higher because these penalties are assessed per day rather than per infraction, and the violation doesn’t need to be “knowing” or “reckless” in order to merit a penalty.
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  • CFPB finalizes its 'Know Before You Owe' campaign

    Agency reveals new loan disclosures after 2 years of study
    Lenders will be required to start utilizing the Consumer Financial Protection Bureau’s finalized "Know Before You Owe" loan disclosure documents in an effort to more efficiently lay out mortgage terms for homebuyers, the bureau announced this week.
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