CFPB to Release Prototype of Combined RESPA/TILA Disclosure Form Today
May 18, 2011
The Consumer Financial Protection Bureau plans to release its first prototype of the combined RESPA/TILA disclosure form on its website today. To receive notice when the forms are posted or to receive the latest developments at the CFPB, you can sign up for email updates by clicking here.
ALTA’s RESPA Task Force will continue to work with the CFPB as the bureau continues to modify the form. The Task Force asks the title industry to engage in the process by signing up for CFPB updates. You may send comments to the Task Force at firstname.lastname@example.org.
The CFPB plans to share changes to the draft form online, while they’re still in the design phase, in order to receive feedback. The agency also plans to test the form in six markets: Albuquerque, N.M.; Baltimore; Birmingham, Ala.; Chicago; Los Angeles; and Springfield, Mass.