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Financial Services Industry TILA-RESPA Integrated Disclosure Rule (TRID)

Ballard Spahr LLP

VA Announces Change Regarding Temporary Variance Allowing Veterans to Pay Broker Commissions

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Previously, in connection with the home loan program of the Department of Veterans Affairs (VA) we reported on the VA’s adoption of a temporary local variance allowing veterans to pay the commission of the real estate broker...more

Ballard Spahr LLP

VA Proposes Rules for ARM Loans and Temporary Buydown Agreements

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The U.S. Department of Veterans Affairs (VA) recently proposed rules under its home loan guaranty program regarding adjustable rate mortgage (ARM) loans, hybrid ARM (h-ARM) loans and temporary buydown agreements. Comments are...more

Ballard Spahr LLP

CFPB Issues RFI on Mortgage Closing Costs

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The Consumer Financial Protection Bureau (CFPB), recently issued a Request for Information (RFI) related to fees charged by providers of mortgages and related settlement services. In his statement, Director Chopra discussed...more

McGlinchey Stafford

CFPB’s So-Called “Junk Fees” Revolution Targets Residential Mortgage Loan Closing Costs

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On March 8, 2024, the Consumer Financial Protection Bureau (CFPB) announced it was seeking public input on so-called “junk fees” incurred as part of the closing process for residential mortgage loans. The residential...more

Ballard Spahr LLP

CFPB Approves Trial Disclosure Program Waiver Template Application for Construction-to-Permanent Loans

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The CFPB recently approved an application (Application) from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA)...more

Ballard Spahr LLP

CFPB seeks input on construction and construction-to-permanent loan trial disclosure sandbox application

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The CFPB recently announced that it is seeking input on a trial disclosure sandbox application from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real...more

Alston & Bird

Second Juneteenth Holiday Raises Tricky Compliance Issues

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A&B Abstract - The second observance of the Juneteenth National Independence Day (Juneteenth) holiday is Monday, June 20, 2022. ...more

Hudson Cook, LLP

2020 CFPB TRID Developments

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The year 2020 marked the five-year anniversary of the TILA-RESPA Integrated Disclosure rule (TRID Rule). While the year passed without any additional formal rulemaking from the Consumer Financial Protection Bureau (Bureau or...more

Bradley Arant Boult Cummings LLP

CFPB Releases TRID Guidance for Juneteenth National Independence Day

Late last week, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule that provided much-welcome guidance related to the effect of the new Juneteenth National Independence Day on disclosure waiting...more

Hudson Cook, LLP

CFPB Bites of the Month - July Top 10

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So what happened at the CFPB in the past month? Bite #10 - The CFPB released its Spring 2021 rulemaking Agenda. The CFPB published its Spring 2021 rulemaking Agenda, which outlines the current plans for the CFPB...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

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In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Goodwin

OCC Reconsiders Controversial Revisions to CRA Rules

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In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more

Goodwin

OCC Finalizes “True Lender” Rule

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In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

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SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Ballard Spahr LLP

CFPB Addresses Rescission And TRID Rule Waiting Periods And Changed Circumstances In View Of COVID-19

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On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) announced an interpretive rule addressing the waiting periods under the Regulation Z right to rescind provisions and the TRID rule in view of COVID-19, and...more

Ballard Spahr LLP

CFPB Publishes TRID FAQs on Treatment of Lender Credits

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The CFPB recently published 10 new TRID FAQs related to lender credits. Previously the CFPB staff provided informal verbal guidance regarding lender credits, and the 2017 amendments to the TRID rule, often referred to as...more

Goodwin

Financial Services Weekly News: Banking Agencies Finalize CECL Policy Statement

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In This Issue. Federal banking agencies finalized an Interagency Policy Statement on Allowance for Credit Losses, which is intended to promote consistency in the interpretation and application of the current expected credit...more

Ballard Spahr LLP

CFPB Publishes TRID FAQ’s on Treatment of Lender Credits

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The CFPB recently published ten new TRID FAQs related to lender credits. Previously the CFPB staff provided informal verbal guidance regarding lender credits, and the 2017 amendments to the TRID rule, often referred to as...more

Manatt, Phelps & Phillips, LLP

CFPB Happenings: Workshop, TRID Guidance, Constitutionality Briefs

To close out a busier-than-expected 2019, the Consumer Financial Protection Bureau (CFPB or Bureau) held a workshop in conjunction with the Federal Trade Commission (FTC); published additional guidance under the TILA-RESPA...more

Ballard Spahr LLP

CFPB Publishes TRID Guides on Construction Loans

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Although the 2017 amendments to the TRID rule, often referred to as TRID 2.0, added commentary to TRID provisions of Regulation Z and, particularly, Appendix D to Regulation Z, that addresses multiple advance construction...more

Manatt, Phelps & Phillips, LLP

CFPB News Roundup: Appeals Activism, TRID Review, SCOTUS Date and More

As 2019 nears an end, the Consumer Financial Protection Bureau (CFPB or Bureau) has remained busy, challenging a class action settlement in Maryland, seeking public comment on the TRID disclosure rule, releasing its latest...more

Ballard Spahr LLP

CFPB to Assess TRID Rule’s Effectiveness

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The Dodd-Frank Act requires the CFPB to conduct an assessment of each “significant rule” adopted by the Bureau. The Bureau has determined that the TILA/RESPA Integrated Disclosure (TRID) Rule qualifies as a “significant...more

Manatt, Phelps & Phillips, LLP

Third Time’s the Charm? Key Takeaways From the Updated TRID FAQs

On July 31, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a third update to its TILA-RESPA Integrated Disclosure (TRID) FAQs, providing new questions and answers regarding giving loan estimates to...more

Goodwin

Financial Services Weekly News: Fed to Launch Real-Time Payment Service

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In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) announced that it will launch a new round-the-clock, real-time payment and settlement service — the FedNow? Service — to support faster...more

Ballard Spahr LLP

CFPB Updates TRID Rule FAQs to Address Providing a Loan Estimate to Consumers

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The CFPB recently updated the TRID rule FAQs to address questions about providing a Loan Estimate to consumers. The FAQs mostly confirm guidance previously provided by the CFPB in various forms. ...more

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