Category Archives: CFPB

CFPB Releases Proposed TRID Amendments

Today, the Consumer Financial Protection Bureau (CFPB) released several proposed amendments to the TILA-RESPA Integrated Disclosure (TRID) rule. The CFPB will be accepting comments to the amendments until October 2016, before final regulations are issued. Click the link below to … Continue reading

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CFPB not likely to address title insurance premiums with update to TRID

While the CFPB still has not released any updates to TRID it looks like when they do it won’t include changes to the title insurance premiums disclosure rules. In a recent July 14th letter, Director Cordray said that fixing the … Continue reading

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Interest rates are down but so is available credit

While we are seeing all time low interest rates, we aren’t seeing the expected increase in loan volume. The tighter rules and regulations tied around obtaining a loan is making it more difficult for a consumer to take advantage of … Continue reading

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CFPB expected to address secondary market issues

With investors worried about the consequence of errors on the CDF it is expected that the CFPB will address the secondary market concerns in their clarifications expected this July. To read more click below. http://www.nationalmortgagenews.com/news/compliance-regulation/cfpb-clarity-on-investors-trid-liability-could-thaw-secondary-market-1079681-1.html

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CFPB publishes annotated versions of the LE and CDF

The CFPB has published annotated versions of the Loan Estimate (LE) and Closing Disclosure (CD).  The have noted the sections of chapter 2 (Part B) of TILA that the CFPB says were “referenced in the Integrated Mortgage Disclosure final rule.”  … Continue reading

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CFPB April 12th webinar recording now available

On Tuesday, April 12 at 2 p.m. EDT, the Federal Reserve hosted a webinar on the Know Before You Owe mortgage disclosure rule.  A link to a recording of this webinar is now available on the Bureau’s website. You can … Continue reading

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CFPB Planning amendments to TRID

Seven months after the implementation of the CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule, the bureau announced a notice of proposed rulemaking expected to be released by late July. The new rulemaking, would incorporate some of the bureau’s existing informal guidance from their … Continue reading

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CFPB addresses Negative Amount for Owner’s Title Insurance Policy in webinar

The CFPB provided guidance to the industry on the negative amount for owner’s title insurance policy question during their webinar on April 12, 2016.  Below is the question and response from the CFPB during the webinar. Q7: The calculation of … Continue reading

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TRID Tip of the week

Did you know that some of the issues we are seeing on the secondary market can be fixed at closing? Investors are rejecting loans if the word “Title – ” doesn’t precede all title fees on the closing disclosure form.  (i.e. “Title … Continue reading

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Director Cordray to testify before the Senate Banking Committee

This Thursday, April 7th at 10:00 am EST, Director Cordray will testify before the Senate Banking Committee in a session called “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” Use this link to access the live webcast on Thursday, April 7th at 10:00 … Continue reading

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