The Consumer Financial Protection Bureau (CFPB) is in the process of creating new mortgage disclosures by integrating forms required under the Truth in Lending Act (TILA) and Real Estate Settlement and Procedures Act (RESPA). This page will provide updates and the latest information on what ALTA and its RESPA Task Force is doing to advocate on your behalf to ensure the new forms benefit consumers and industry.
On July 9, 2012, the Consumer Financial Protection Bureau released a 1,099-page Proposed Rule to go with a new Loan Estimate and Closing Disclosure to replace the current Truth In Lending, Good Faith Estimate and HUD-1 Settlement Statement disclosures.
Proposed Loan Estimate with Page References to Rule
Proposed Closing Disclosure with Page References to Rule
Proposed Loan Estimate
Proposed Closing Disclosure
Summary of Proposal
Factsheet of Proposal
Know Before You Owe: Evolution of the Integrated TILA-RESPA Disclosures
What You Can Do
Join the Title Action Network to keep up-to-date about the rule and how you can take action.
ALTA Comment Letter to CFPB - Nov. 6, 2012
ALTA provided comments to the Consumer Financial Protection Bureau (CFPB) sharing concerns about the bureau’s proposed regulations to combine the overlapping federal disclosure forms required by RESPA and TILA.
Justin B Ailes
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News on the Consumer Financial Protection Bureau