Frequently Asked Questions on TILA-RESPA Integrated Disclosures, Part 4 — Completing the Closing Disclosure
Event Details
NOTE: The audio archive for this event is no longer available, but the presentation slides are available at the links below.
Please join us for the fourth in a series of discussions on the TILA-RESPA Integrated Disclosures rule. The new rule consolidates existing mortgage disclosures required under TILA and RESPA into two integrated forms designed to make it easier for consumers to understand and locate key information, and also integrates the substantive and procedural requirements for providing these disclosures to consumers. The Consumer Financial Protection Bureau (CFPB) plans to host these webinars periodically throughout implementation, regularly soliciting feedback and additional questions in the interim.
The November 18th session will focus on issues related to how to complete the Closing Disclosure by addressing specific questions related to rule interpretation and implementation challenges that have been raised to the Bureau by creditors, mortgage brokers, settlement agents, software developers, and other stakeholders.
The CFPB anticipates a substantial volume of compliance and interpretive questions during implementation, and plans to use these webinars to consolidate and address these questions in a way that promotes consistent understanding of the rules and provides a resource that stakeholders may reference. The CFPB believes this approach will be more efficient and beneficial to stakeholders than relying on private, one-to-one conversations with CFPB staff or waiting for updates to the rule or its commentary.
Additional information and resources related to the TILA-RESPA Integrated Disclosure rule may be accessed at the CFPB’s website at: http://www.consumerfinance.gov/regulatory-implementation/tila-respa/.