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News & Press: Regulatory

CFPB has issued proposed amendments to the TRID Rule.

Monday, August 1, 2016   (0 Comments)
Posted by: Bonnie Nachamie
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CFPB has issued proposed amendments to the TRID Rule.

The Bureau of Consumer Financial Protection (Bureau) is proposing various amendments to Federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act that are implemented in Regulation Z.  The proposed amendments memorialize the Bureau’s informal guidance on various issues and include clarifications and technical amendments.  The Bureau is also proposing tolerance provisions for the total of payments, an adjustment to a partial exemption mainly affecting housing finance agencies and nonprofits, extension of coverage the integrated disclosure requirements to all cooperative units, and guidance on sharing the disclosures with various parties involved in the mortgage origination process.


The comment period ends October 16, 2016. 

 You can read the proposed rule at
http://www.consumerfinance.gov/policy-compliance/rulemaking/rules-under-development/amendments-federal-mortgage-disclosure-requirements-under-truth-lending-act-regulation-z/



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