Nation: CFPB Clarifies TRID

NAR has been actively monitoring the implementation of the “Know Before You Owe” also known as the TILA-RESPA Integrated Disclosure rule by the Consumer Financial Protection Bureau (CFPB). Feedback from REALTORS across the nation highlighted the reluctance of lenders to share the new mandated Closing Disclosure (CD) with real estate professionals. Lenders have been refusingContinue reading “Nation: CFPB Clarifies TRID”

“Know Before You Owe” (TILA-RESPA) Effective 10-3-2015

Important News From DORA The Consumer Financial Protection Bureau’s (CFPB) “Know Before You Owe” mortgage rule (also known as the TILA-RESPA Integrated Disclosure rule) will be effective October 3, 2015.  This rule consolidates four existing disclosures required under Truth-in-Lending (TILA) and the Real Estate Settlement Procedures Act (RESPA) for transactions secured by real estate intoContinue reading ““Know Before You Owe” (TILA-RESPA) Effective 10-3-2015″