Consumer Financial Protection Bureau Finalizes Two-Month Extension of Know Before You Owe Effective Date

July 21st, 2015 by

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, to October 3, 2015. The rule requires easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage for a Read More

General Requirements for the Loan Estimate Disclosure Post TRID

July 13th, 2015 by

“Stay on top of your game by familiarizing yourself with the general requirements that are going change in regards to the Good-Faith Estimate when the new TILA-RESPA Integrated Disclosure (TRID) rule goes into effect.”

3 Things to Keep in Mind When Writing Contracts Post TRID

July 6th, 2015 by

The TILA-RESPA rule (TRID) is proposed to go into effect this year on October 3. Buyer’s Agents will need to be aware of 3 main things: what type of loan product their client is using to purchase, the expected closing date and if their title partner is approved to do business with their client’s lender Read More

Specific Record Retention Requirements for the TILA-RESPA Rule

June 30th, 2015 by

“The creditor must retain copies of the closing disclosure for 5 years after consummation.”

When is the CFPB going to Implement the TILA-RESPA Integrated Disclosure Rule?

June 25th, 2015 by

“…the industry grasping for much needed clarity…”

It’s Going Down in 99 Days!

June 24th, 2015 by

The TILA-RESPA rule goes into effect October 3 of this year. What transactions does it apply to? It applies to almost every closed-end consumer credit transaction secured by real property. Check out what the CFPB had to say below: In an industry that is constantly modifying it is important to partner with those who stay Read More

What is TRID?

June 23rd, 2015 by

The TILA-RESPA rule (TRID)– is meant to make the disclosure documents used during a transaction more consumer friendly and to move the industry towards a paperless transaction. The rule combines the current four disclosures. Check out the CFPB’s break down below: Don’t recognize the new Jargon? Here is a handy chart to help with the Read More

Stick Around For Our Countdown!

June 22nd, 2015 by

The industry’s much anticipated delay to implement the TILA-RESPA Integrated Disclosure (TRID) was announced last week. The new regulation had the initial launch date set to be August 1, 2015 but has now been pushed back later this year to October 1.

It’s Goin’ Down!

June 19th, 2015 by

Due to lack of preparedness in the industry, CFPB has delayed implementation of the TILA-RESPA Integrated Disclosure (TRID). It’s important to partner up with a title agency that is ready for the up coming industry changes. Title agencies powered by the Florida Agency Network are compliant, trained and ready to take on these industry changes. It’s Read More

CFPB Will Push TRID Implementation to Oct. 1

June 19th, 2015 by

After months of denying requests from real estate, mortgage and settlement service industry professionals and trade groups to either delay implementation of the TILA-RESPA Integrated Disclosures (TRID) regulation or agree to enact a “hold harmless” enforcement period, the Consumer Financial Protection Bureau (CFPB) announced today that it will push the Aug. 1 implementation deadline to Read More