Gov't Affairs, Govt - Nation, Govt - National Assoc. of Realtors® (NAR)

Nation: PACE Reform Bills Introduced

Bipartisan legislation supported by NAR was introduced in the Senate and House that would subject Property Assessed Clean Energy (PACE) loans to the same Truth in Lending Act (TILA) consumer protections required of other mortgage products. In the Senate, Senators Tom Cotton (R-AR), Marco Rubio (R-FL), and John Boozman (R-AR) introduced the legislation. The House… Continue reading Nation: PACE Reform Bills Introduced

Gov't Affairs, Govt - Nation

Nation: Bill to Reform Dodd-Frank Introduced

Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, introduced the “Financial Choice Act” to reduce regulatory burdens and expand credit access to consumers and businesses.  NAR sent a letter to the Committee in support of several provisions in the bill including a revision to the Truth in Lending Act’s (TILA) definition of… Continue reading Nation: Bill to Reform Dodd-Frank Introduced

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

Get Ready For RESPA Changes

On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) issued its final rule to integrate the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations. The final rule integrates existing disclosures with new requirements from the Dodd-Frank Act to improve consumer understanding of the mortgage process, aid in… Continue reading Get Ready For RESPA Changes

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

RESPA/TILA Webinar

A NAR webinar that covers changes to Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act is available online. The new rule combines the Good Faith Estimate with the Truth in Lending (TIL) disclosure now called the "loan estimate" and the… Continue reading RESPA/TILA Webinar